WASHINGTON — Finance chiefs from the world's largest economies lined up against the U.S. on Friday, stepping up pressure on the International Monetary Fund's most powerful member to sign off on a long-stalled pact to boost the IMF's ability to rescue countries in economic trouble.
The Group of 20 nations' finance ministers and central bankers laid bare their frustration over Congress' failure to ratify a 2010 agreement that would increase the IMF's lending authority and give emerging markets such as China and Brazil a bigger voice in the fund.
"We are all very disappointed by the ongoing failure to bring these reforms to conclusion," G20 Chairman and Australian Treasurer J.B. Hockey said after the G20 meeting in Washington. "They have consistently been blocked by the U.S. Congress."
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