A provision in the recently signed defense spending bill mandates that the United States work to ease Ukraine’s debt burden at the International Monetary Fund, which could create tensions at the world’s lender-of-last-resort over one of its biggest borrowers.
The National Defense Authorization Act requires American representatives to each global development bank, including the IMF, where the U.S. is the largest stakeholder, to use “ the voice, vote, and influence " of the U.S. in seeking to assemble a voting bloc of countries that would change each institution's debt service relief policy regarding Ukraine.
