US should follow IMF's lead on SWFs

US lawmakers heading a working group on sovereign wealth funds have deemed the International Monetary Fund, not the US Congress, the appropriate forum for addressing funds' transparency and accountability.

In a letter to the Wall Street Journal, a newspaper, representatives James Moran and Thomas Davis, the co-chairs of the Congressional Working Group on Sovereign Wealth Funds, said that "strong-arm tactics" by the US authorities could be counterproductive.

The two representatives said that g