ajay banga, welcome to the program., one more complication, it seems to me, in addition to all of the challenges you face is that the defining reality right now that we are living with is growing tension between the largest economy in the world and the second large of the economy in the world. does that kind of geopolitical tension make it more difficult for you at the bank because at the end of the day the americans and the chinese don't agree on things. do you get paralyzed? >> i'm afraid there's no doubt that multilateralism is in a very different place today than it was years ago and that has to impact us. we're in the business of trying to eliminate poverty in a livable planet and while politics is important we really don't have the time and our institution to get stopped by that. we have to find the things in common that they can work on, and i spent time in beijing during the nomination and i began to speak to the finance minister of china and we talked about where things can be in common, healthcare and pandemic

and looking forward to working with the new world bank president, ajay banga, to build further momentum for our evolution initiative. looking ahead, the biden administration seeks to bolster u.s. leadership in these institutions. to that end, we request authorization to newer participation in the imf's new arrangements to borrow critical backstop to imf resources. we also seek authorization to lend two key imf trust funds. the poverty reduction and growth trust and resilience and sustainability trust. these actions will help the imf address economic price -- crises with an emphasis on supporting developing countries amid heightened risks and we would also like to boost our involvement in when the african development fund. these investments will bolster our engagement in these regions at a time of geopolitical competition. i want to end by discussing the debt limit. i am relieved that with the presidents leadership, congress took action to address the debt limit in time. while we were able to avoid default, united states once again can dangerously close to the line. this cannot be normal