On Friday, U.S. Treasury Secretary Janet Yellen said the International Monetary Fund has the resources to address global financial difficulties but requires “fair and simple” ownership reforms to reflect its member nations’ economies.
In a statement to the IMF’s steering committee, Yellen said she wanted the World Bank to adopt more reforms to scale up funding for climate and other global needs on a rolling basis before the IMF and World Bank’s annual meetings in Marrakech, Morocco, in October.
