Obama also asked lawmakers to approve a US contribution to the fund to 100 billion dollars, as part of the plan to swell International Monetary Fund reserves agreed at this month's Group of 20 summit in London.

The president made the request in several letters to Democratic and Republican congressional leaders on Monday, pointing out that the fund did not require an extra financial outlay from the United States.

When Washington transfers funds to the IMF under the program, known as an expansion of the New Arrangements to Borrow (NAB), it would receive interest bearing assets in return, backed up by IMF resources including gold stocks.

"Our proposal to increase US participation in the NAB by up to 100 billion as part of an overall increase of 500 billion dollars was warmly endorsed by the G20 Leaders," the letters said.

"I am asking for your help to deliver on that commitment by supporting inclusion of the NAB and related IMF proposals in the most timely legislative vehicle that will enable the United States to act quickly," Obama wrote.

"Rapid progress is essential to the restoration of confidence in the global economy and financial system so that the global economy can emerge from recession to recovery and to sustained growth.

The IMF was the main beneficiary at the Group of 20 London summit where leaders agreed to triple its war chest to 750 billion dollars by adding 500 billion dollars, some of it already pledged.

Obama made the request in letters to two Democrats: House of Representatives speaker Nancy Pelosi and Senate Majority leader Harry Reid; and Republican House leader John Boehner and Senate Minority leader Mitch McConnell.

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