Emerging countries blast US for not backing IMF reform

The emerging economies of the G-24 group sharply criticized the United States on Thursday for holding up what they see as critical reforms of the International Monetary Fund. Speaking at the spring meetings of the IMF and World Bank, the group said the failure after five years of the US Congress to ratify the reforms was undermining the effectiveness and legitimacy of the global crisis lender. "We reiterate our deep disappointment with the lack of progress in implementing the IMF quota and