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WASHINGTON - U.S. Treasury Secretary Janet Yellen heads to International Monetary Fund and World Bank annual meetings next week in Morocco to press U.S. priorities including increasing the institutions' funding against a backdrop of political chaos in the U.S. Congress.
A U.S. Treasury official also said Yellen would argue for countries and institutions at the meetings to provide as much funding as Ukraine needs to battle Russia's invasion. Representative Nikki Budzinski, an Illinois Democrat, said she was concerned about the image of"instability and chaos" at home as Yellen presses U.S. interests abroad.
The official said that IMF and World Bank funding packages the Treasury has proposed should have some bipartisan appeal in Congress. The Biden administration has been seeking to portray the institutions as alternatives to borrowing from China for countries.
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