Washington Post

Janet Yellen faces critical choice for global economy, poor nations rocked by coronavirus

Janet Yellen, President- elect Joe Biden's pick to be Treasury Secretary, speaks in Wilmington, Del., on Dec. 1, 2020. Foto: Washington Post/Demetrius Freeman

WASHINGTON - An International Monetary Fund proposal to approve emergency financial backing for nations reeling from the devastating economic impact of the coronavirus has the support of the overwhelming majority of its 189 member countries.

But for months, the initiative has been blocked almost single-handedly by the Trump administration, which has used effective U.S. veto power over IMF decisions to reject theinternational consensus...

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