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House-passed IMF funds face accord with Senate

In a victory for the Reagan administration, the House of Representatives barely approved an $8.4 billion increase in the US contribution to the International Monetary Fund to assist debt-stricken developing countries.

The controversial legislation, which passed on a 217-to-211 vote Wednesday night, must be reconciled with a different Senate bill. Before its adoption the House defeated a string of amendments designed to weaken the measure, which critics said would bail out banks for their risky loans to struggling countries.

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