1998-03-27 Statement by the President (fwd)

[Robert Weissman <rob@essential.org>]

                            THE WHITE HOUSE

                     Office of the Press Secretary
                       (Capetown, South Africa)
________________________________________________________________________
For Immediate Release                                     March 27, 1998


                      Statement by the President


    I am pleased that the Senate has approved important legislation to
provide funding for victims of natural disasters, for support of our 
forces in Bosnia and the Persian Gulf, and to deal with the risk to 
financial stability around the world.

    It is particularly important that the Senate, by a vote of 86-14,
provided the International Monetary Fund with resources it needs to 
help stabilize Asian economies.  The crisis in Asia poses a threat to 
American jobs and exports, and we already have seen evidence that 
weaknesses in economies there are having an impact here.  To ensure 
that the American economy continues on the path of steady growth, 
Congress must make sure that the IMF is strong enough to respond to 
any broadening of the current crisis.  And because the IMF functions 
like an international credit union, paying our share won't cost 
American taxpayers a dime.

    I am also pleased that the emergency funding in this bill will 
allow our military forces to continue their missions in Bosnia and the 
Persian Gulf without impairing the high readiness level of our forces 
worldwide.

    At the same time, I remain concerned that the Senate bill does not
address the matter of United Nations arrears.  This continues to 
undercut our global leadership.

    I hope that the House of Representatives will act to fund all these
critical activities before it returns home for recess.


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