Yellen heads to Morocco IMF-World Bank meetings in shadow of US political chaos

US Treasury Secretary Janet Yellen addresses a news conference during a G20 finance ministers' and Central Bank governors' meeting at Gandhinagar July 16, 2023. — Reuters picWASHINGTON, Oct 6 — US Treasury Secretary Janet Yellen heads to International Monetary Fund and World Bank annual meetings next week in Morocco to press US priorities including increasing the institutions’ funding against a backdrop of political chaos in the US Congress.

A US Treasury official also said Yellen would argue for countries and institutions at the meetings to provide as much funding as Ukraine needs to battle Russia’s invasion. Representative Nikki Budzinski, an Illinois Democrat, said she was concerned about the image of “instability and chaos” at home as Yellen presses US interests abroad.

The official said that IMF and World Bank funding packages the Treasury has proposed should have some bipartisan appeal in Congress. The Biden administration has been seeking to portray the institutions as alternatives to borrowing from China for countries.

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