Christine Lagarde, the Managing Director of the International Monetary Fund, has criticized the United States for not accepting the IMF governance reform in the recent interview to The Washington Post. In her opinion, the U.S. approach to the system reformation not just hampers the fund's plans realization, but also does Washington a disservice. Nevertheless, Ms Lagarde noted that the organization keeps working in the ordinary course of events and has already raised its funds from $300 billion to more than $1 trillion. By the way, the U.S., which opposed such a measure, has nothing to do with the capital accrual. Besides, the managing director paid special attention to the fact that the IMF always lends the support for the impecunious countries-members. However, to date, the International Monetary Fund's hands are tied due to the U.S. blocking. “If anything, it has undermined the position of the one member whose ratification would trigger the governance reform implementation and the quota increase,” Ms Lagarde added. Recall that the United States has blocking votes, so it has not yet approved the agreement of the Fund reform which was presented in 2010.
