2023-08-22 18:38:03
The American president wants to beef up the financing capacities of the International Monetary Fund and the World Bank at the next G20 summit.
Joe Biden will plead to strengthen the financing capacities of the International Monetary Fund and the World Bank at the next G20 summit in India scheduled for September 9 and 10. “If you take into account the scale (of the financing needs) and, to put it bluntly, burdensome and unsustainable loans that China makes through the ‘New Silk Roads’we must ensure that there are solutions with high quality and principle requirements” for developing countries, said his national security adviser, Jake Sullivan, on Tuesday. “One of the ways of to get our money’s worth is to go through the World Bank and the IMF,” he added.
He estimated that the American proposals concerning these two institutions would unblock “approximately $50 billion in loans for middle-income and poor countries from the United States alone,” and expect “our allies and partners to contribute as well,” which would bring the amount of funding available to $200 billion. Joe Biden’s adviser, however, assured that the “support (of the United States) to the World Bank and the IMF was not (was) directed once morest China.”
The White House has chosen to communicate on its ambitions for the two major institutions at a time when the Brics summit opens in South Africa, with on the agenda a program of enlargement of this block of large emerging countries, in search of greater international influence.
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