Armey talks tough on IMF (fwd)

[Robert Weissman <rob@essential.org>]

         WASHINGTON, March 31 (Reuters) - U.S. President Bill  
Clinton's drive to replenish the International Monetary Fund's 
resources is stalled in the House of Representatives, House 
Majority Leader Dick Armey's office said on Tuesday. 
         "The House is unwilling to act until the administration  
agrees to reform the IMF and stop subsidizing risky behavior," 
Armey spokeswoman Michele Davis said. 
         The Clinton administration wants the House to provide $18  
billion to replenish IMF resources drained by three 
multibillion-dollar rescue deals for troubled Asian countries. 
         The Senate approved the funding last week.  
         Top administration officials issued a public appeal on  
Tuesday for congressional support, saying the U.S. economy and 
security were at stake. 
         "IMF resources today could well not be sufficient were a new  
major crisis to develop," Treasury Secretary Robert Rubin told a 
news conference. "And a new major crisis could severely affect 
our economic interests." 
         Defense Secretary William Cohen warned the crisis in Asia  
risked "setting off a trade type of war that would be adverse to 
our interests." 
         Davis said Armey, a Texas Republican, was unlikely to  
schedule a vote on IMF and United Nations funding legislation in 
the full House before mid-April, "if at all." She said the 
Republican leader doubted the administration would press for 
reforms at the IMF. 
         "IMF reform is on ice in the House until the White House  
agrees to reform the agency and make it more accountable to 
taxpayers," Davis said. 
         Earlier, the House Rules Committee refused to add IMF and  
United Nations funding to pending legislation paying for U.S. 
--MORE--(72%)disaster relief and military operations. The disaster and 
military package was scheduled for a vote in the full House 
later on Tuesday. 
         The IMF funding package, approved by the House  
Appropriations Committee last week, has drawn heavy fire from 
the Clinton administration. Treasury said some of the reform 
conditions would make it "unworkable." 
         House Republican leaders have vowed to attach anti-abortion  
provisions to the IMF money. The abortion issue killed funding 
for the IMF and United Nations last November and could derail 
the package again this year because it would drive away 
Democrats and invite a presidential veto. 
         Rubin urged House Republicans not to tie the abortion  
provisions to the package. 
         "Our economic well-being and war and peace are issues that  
are too vital to our interests to have the funding that supports 
them be impeded," Rubin said. 
                
 
End of article 10439 (of 10439) -- what next? [npq]