From the BBC:
BBC News - US Congress criticised over delay of IMF reform plansPlans to reform the International Monetary Fund (IMF) have stalled because of
a divided US Congress.
Reforms to the IMF that would give more power to emerging economies are
awaiting Congress approval.
Criticism of the U.S. Congress has also come from U.S. allies. For example, The Sydney Morning Herald reported:
Joe Hockey blasts US over delay in IMF reformsIn rare public criticism of the close ally, Mr Hockey said Australia - the current chair of the Group of 20 major economies - was "deeply disappointed" by the failure of a 2010 IMF reform plan to come into effect and said the blame lay "firmly and uniquely" with the US Congress.
"The United States drove the reform agenda of the IMF and the United States Congress is now the biggest impediment to that reform being delivered," Mr Hockey said on the sidelines of annual IMF/World Bank spring meetings in Washington.
IMO, failure to enact legislation supporting the IMF reforms reflects a growing provincialism among elements of the U.S. Congress, not a newfound commitment to fiscal responsibility. The proposed reforms do not have a fiscal impact on the U.S. In other words, the U.S. would not be saving any money from its failure to adopt the reforms.
The reforms would allow the IMF to transfer funds from its temporary account to its permanent resources. In an op-ed published in the March 24, 2014 edition of The Wall Street Journal, IMF Managing Director Christine Lagarde explained, "The IMF reforms come at no additional cost or risk to the American taxpayer. Money that Congress already appropriated five years ago will simply be transferred from a temprorary fund at the IMF into its permanent resources."