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Today: January 21, 2025
Today: January 21, 2025

Yellen says U.S.-backed IMF funding increase as "pretty likely"

FILE PHOTO: Yellen heads to Morocco IMF-World Bank meetings in shadow of US political chaos
April 26, 2024
Reuters - Reuters

MARRAKECH, Morocco (Reuters) - U.S. Treasury Secretary Janet Yellen told Reuters on Friday that her plan for an "equi-proportional" increase in International Monetary Fund quota-based lending resources was "pretty likely to get done" despite concerns raised by China.

Yellen was speaking in an interview on the sidelines of the IMF and World Bank annual meetings.

"There's a desire to see the IMF well-resourced with larger quota resources and less reliance on borrowing arrangements," Yellen said.

(Reporting by David Lawder)

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