美國向批准IMF改革邁出一步

The US Congress has taken a step closer to granting long-awaited approval to reforms of the International Monetary Fund that would give China and other emerging economies a greater voice in shaping the institution’s policies.

美國國會向着批准國際貨幣基金組織(IMF)改革方案走近了一步，這些期待已久的改革將賦予中國和其他新興經濟體更大發言權，讓它們參與決定該機構的政策。

The text of a US omnibus spending bill, released yesterday morning as part of a budget deal, includes approval for the Obama administration to finally vote for stalled 2010 quota reforms that have become a source of tension between the US and the IMF.

昨日上午作爲預算協議的一部分發布的美國綜合支出法案，包括了批准奧巴馬政府最終投票支持2010年出臺、但隨後陷入停滯的配額改革，這件事近年成爲美國和IMF之間緊張的源頭。

The 2010 reforms called for a doubling of the IMF’s quotas, or the capital countries contribute, and a reallocation to give countries such as China a greater say at the fund. Under the reforms now expected to go ahead, China’s voting share at the IMF would increase from 3.8 per cent to 6 per cent while the US would see its share shaved from 16.7 per cent to 16.5 per cent and preserve its veto. The big losers would be European economies, which would see their voting rights diminished.

2010年改革方案提出將IMF的配額（即各國貢獻的資本）增加一倍，並進行重新分配，給予中國等國家更大發言權。根據目前預計將會落實的改革，中國在IMF的投票權份額將從3.8%提高至6%，而美國的投票權份額將從16.7%微幅降至16.5%，同時保留其否決權。最大的輸家將是歐洲各經濟體，它們的投票權份額將被削減。

The 2010 reforms were initiated in part by the Obama administration in a bid to keep China happy and within the Bretton Woods system. But their stalling in Congress amid Republican concerns that they would diminish US influence at the IMF is seen by many as contributing to Beijing’s decision to establish alternative institutions such as the Asian Infrastructure Investment Bank.

奧巴馬政府在2010年發起改革，在一定程度上是爲了滿足中國的願望，使其留在佈雷頓森林體系內。但由於共和黨方面擔心改革會削弱美國在IMF的影響力，這些改革在美國國會受到阻撓，很多人認爲，這一點是促使中國決定建立亞洲基礎設施投資銀行（AIIB，中文簡稱“亞投行”）等替代機構的因素之一。

“[Congressional approval for the reforms] is important. It is definitely belated. And I think there are some costs to that,” said Benn Steil, head of the international economics programme at the Council on Foreign Relations and author of The Battle of Bretton Woods.

“（國會批准這些改革）是非常重要的。此舉肯定遲了一些，我認爲這帶來了一些代價，”美國外交關係委員會(Council on Foreign Relations)國際經濟主任、《佈雷頓森林體系之爭》(The Battle of Bretton Woods)作者本斯泰爾(Benn Steil)表示。

The slow US approval of the 2010 reforms had given “considerable moral weight” to Beijing’s pursuit of alternatives and helped it secure the backing of US allies in Europe and Asia for the AIIB, added Mr Steil.

斯泰爾補充道，美國在批准2010年改革的問題上拖拖拉拉，使北京方面在追求替代方案時具有“相當大的道德力量”，並幫助其爭取到美國在歐洲和亞洲的盟友支持亞投行。

But, in what could become a new cause for friction between the US and the fund, the spending bill calls for a greater role for Congress in approving extraordinary loans by the IMF. It also requires the US to pursue the repeal of a “systemic exemption” created in 2010 to allow the fund to take part in the Europe-led rescue of Greece’s economy.

但是，可能給美國和IMF之間帶來新的摩擦的一個細節是，綜合支出法案提出美國國會應在批准IMF發放特別貸款的問題上扮演更大角色。它還要求美國尋求廢除2010年出臺的“系統性豁免”，當時引入這項豁免的目的是讓IMF能夠參與歐洲主導的救助希臘經濟的行動。

Under the legislation, a US administration would have to inform Congress at least seven days before any IMF board vote on granting what is known as “exceptional access” to fund resources above the normal caps. The bill also calls for a study into whether the IMF should require collateral for loans made under those terms, raising the possibility of countries such as Greece having to hand over control of large parts of infrastructure such as ports or power plants to the IMF in order to secure rescue funds.

根據法案，在IMF董事會就批准高於正常上限的“例外獲取”資金資源進行投票之前，美國行政當局必須提前至少七天知會美國國會。該法案還要求進行一項研究，看IMF應不應該對在那些條款下發放的貸款要求抵押，這意味着希臘這樣的國家如果要獲得救助資金，可能需要把很大一部分基礎設施（如港口和電廠）的控制權交給IMF。

One senior Republican aide involved in the talks said the inclusion of the conditions, particularly with regard to a push to eliminate the “systemic exemption” used for Greece, had been crucial to overcoming conservative concerns about the reforms and IMF bailouts.

參與相關磋商的一位高級共和黨幕僚表示，納入上述條件，尤其是牽涉到廢除曾被用於希臘的“系統性豁免”的條件，對於克服保守派在改革和IMF紓困方面的關切是至關重要的。

The IMF declined to comment on the potential conditions and said it remained cautious about the prospects for Congressional approval of the broader quota reforms. The US Treasury also declined to comment.

IMF拒絕就這些潛在條件發表評論，並表示仍對美國國會批准整體配額改革的前景持謹慎態度。美國財政部也拒絕發表評論。