UPDATE 2-U.S. should ratify IMF quota reforms quickly -IMF, Treasury
(Adds comments from U.S. Treasury)
WASHINGTON, Sept 17 (Reuters) - The International Monetary Fund and the U.S. Treasury said on Thursday the United States should quickly adopt reforms to give emerging markets a bigger say at the international lender.
Plans agreed in 2010 to give emerging markets more voting power and double the Fund's resources have been delayed by the fact the U.S. Congress has not approved the change.
IMF spokesman Gerry Rice said the executive board would discuss options on interim steps later this month, after Congress missed a Sept. 15 deadline to ratify the reforms.
"We continue to urge countries that have not ratified the 2010 reforms, and in particular the United States, to do so as soon as possible," he said.
"We believe that adoption of these reforms is in the interests of all our member countries."
Nathan Sheets, the Treasury's top official for international affairs, said the delay in approving reforms had led other countries to question the United States' commitment to international institutions.
In prepared remarks for a hearing in the U.S. House of Representatives, Sheets said the reforms would preserve the U.S. veto over IMF decisions and not increase its financial commitment to the Fund.
"To ensure that the IMF remains at the center of the multilateral economic system - and that we maintain an important voice in it - the United States should promptly approve the 2010 quota and governance reforms," he said. Continuación...