US CONGRESS RESPONSE TO IMF

US CONGRESS RESPONSE TO IMF

Congress should not approve the Clinton Administration's proposal for an unprecedented $18 billion in additional U.S. taxpayer support for the International Monetary Fund (IMF). Instead of receiving new U.S. moneys, the IMF should be abolished.

Neither the IMF nor the United States should be in the business of subsidising bad loans and risky business ventures in foreign countries. That is why, on April 23, 1998, the House voted by a 36-vote margin to prevent this additional taxpayer support from going to the IMF. (Independent affirmation for the above see IMF complete secrecy.)