Washington's use of its de facto veto at the International Monetary Fund to block reforms giving emerging countries a greater say is jeopardizing the IMF's credibility, complained Managing Director Christine Lagarde.
The United States on Friday issued regulations easing restrictions on US companies seeking to do business in Cuba and opening up travel in the latest action to weaken the trade embargo amid warming relations with the Castro brothers regime.
France, Germany and Italy on Tuesday announced plans to join the Chinese-led development bank AIIB, drawing concern in Washington which views the institution with skepticism. The three European countries want ”to become founding members of the Asian Infrastructure Investment Bank (AIIB)”, they said in a statement.
The credibility of the United States is at risk if Congress fails to approve International Monetary Fund quota and governance reforms, Treasury Secretary Jacob Lew warned on Tuesday. For more than two years the US Congress has prevented the 2010 IMF reforms from taking effect.
The United States government on Friday will begin making it easier for Americans to travel to Cuba than it has been for more than half a century, opening the door to a new era of contact between neighbors that have been estranged longer than most of their citizens have been alive.
Chinese President Xi Jinping told US Treasury Secretary Jacob Lew in Beijing on Tuesday that he wants to build a new type of relationship with Washington centred on core interests.