US to press for fundamental reforms of IMF and World Bank at G20 summit

News Snapshot:

US president Joe Biden is scheduled to travel to India on Thursday for the G20 meeting of large world economies. Photograph: Desiree Rios/The New York Times The Biden administration is expected to press for a “fundamental reshaping” of global financial institutions such as the International Monetary Fund (IMF) and the World Bank at the G20 summit this weekend. US national security adviser Jake Sullivan said this week the United States believed there should be high-standard, non-coercive lending options available to low- and middle-income countries. It is understood the US believes that a reformed IMF and World Bank would offer a...