term reforms to modernize our outdated financial regulatory structure and address other weaknesses. The interdependence of our global economy makes this challenge more complex, and it also makes our work with international counterparts to promote growth and financial stability all the more important.” “Our economies draw significant strength from their openness to international trade and investment. The United States remains committed to resisting protectionist pressures and pressing for openness globally.” He concluded, “As a key force for multilateralism on global economic issues, a strong and effective IMF is firmly in the interest of the United States and the international community. In recent years, the Fund has initiated reforms to update its framework for foreign exchange surveillance, become more representative of the global economy, and revise its financing model. The United States remains committed to working with the U.S. Congress on legislation to implement quota and finance reforms.”
