WASHINGTON (AP) - The International Monetary Fund must do a better job monitoring countries' currency policies, the Bush administration said Saturday, a demand reflecting U.S. frustration with China's slow pace of financial reform.
While seeking new ways to pressure Beijing, Treasury Secretary Henry Paulson also advocated "bold action'' to overhaul the IMF. The organization founded 62 years ago to foster economic stability "no longer looks like the economic world in which we live,'' he said at the spring meetings of the IMF and World Bank.
