House Republicans slam IMF (fwd)

[Robert Weissman <rob@essential.org>]

>From Soren, a clip on our huge victory -- not mentioned in this a.m.'s
WPost, as best I can tell:

Congress leaders to strip IMF from spending bill
Adam Entous
Date: Thu Apr 23 20:04:29 CDT 1998
                                         
         WASHINGTON, April 23 (Reuters) - Congressional leaders
said on Thursday they would strip $18 billion for the
International Monetary Fund from emergency legislation, setting
back White House efforts to replenish IMF reserves. 
         House Appropriations Committee Chairman Bob Livingston
said a House- Senate conference committee drafting legislation to
fund disaster relief and military operations would not include
$18 billion for the IMF, despite pleas from the White House and
IMF supporters in the Senate. 
         "It is very short-sighted of Congress not to move
forward," White House spokesman Mike McCurry told a news
briefing. 
         On its own in the House, IMF funding stands little
chance of passage, House Majority Leader Richard Armey told
Reuters after a closed-door meeting of congressional leaders. 
         "They're very dim," Armey said of the prospects of
approving money for the IMF. Asked if IMF legislation would be
approved by the House, he said, "At this point, no." 
         The Clinton administration wants Congress to provide $18
billion to the IMF to replenish resources drained by multibillion
dollar rescue deals for Indonesia, South Korea and Thailand. 
         The Senate approved legislation last month that included
$18 billion for the IMF and billions more to pay for disaster
relief and military operations in Bosnia and Iraq. 
         But when the House approved its own disaster relief and
military bill, it did not include money for the IMF. 
         The House-Senate conference committee will seek a
compromise between the two versions in the coming days and will
issue legislation to both houses for approval. 
         Livingston said IMF funding would not be part of the
conference committee's spending package. "That won't be part of
conference," the Louisiana Republican said. 
         Senate Appropriations Committee Chairman Ted Stevens,
who led the fight for IMF funding in the Senate, defended
Thursday's decision. 
         As part of the deal, the leadership agreed to push
disaster relief and military funding through both houses this
month. "If it's not reported out before May 1, we will hold tight
and get IMF," the Alaska Republican said. 
         House leaders also agreed to bring IMF legislation to
the floor for a vote in the coming weeks, according to Stevens.
"We do have a commitment that we will have a vote in the House on
IMF," he said. 
         "I'm not disappointed with the decision we've got,"
Stevens added. "We've done the best we could do." 
         The Clinton administration and IMF supporters in
Congress had hoped to wrap the $18 billion in with more popular
legislation funding disaster relief and military operations. 
         But IMF cash has faced stiff opposition in the House,
where lawmakers say the IMF is too secretive and the $18 billion
price tag too high. 
         Contradicting Stevens, Armey said the House was in no
hurry to take up IMF funding. 
         "We simply want to move it slowly and have as much
discussion on this matter ... as we can have," Armey, a Texas
Republican, said. "I cannot tell you when the House will
schedule, or if the House will schedule action." 
         Senate Majority Leader Trent Lott said Congress probably
would agree to boost IMF reserves, but only if strong reform
conditions were put in place. 
         "I think we probably can get the IMF, but not until the
conditions are worked out in a stronger way," the Mississippi
Republican told Reuters. "The conditions have got to be
stronger." 
                
 
House Speaker blasts IMF, no rush to approve funds
Date: Thu Apr 23 20:52:27 CDT 1998
                                         
         WASHINGTON, April 23 (Reuters) - The Speaker of the U.S.
House of Representatives, Newt Gingrich, blasted the
International Monetary Fund on Thursday, saying its policies were
"consistently wrong" and Congress was in no rush to approve 
legislation boosting its reserves. 
         "The International Monetary Fund is consistently wrong,"
Gingrich said during a heated House debate on funding for the
IMF. 
         "We believe, on behalf of the taxpayers, that we have
the right, as the Congress, to ask some very tough questions of a
multibillion-dollar bureaucratic institution that is totally
secret." 
         The Clinton administration wants Congress to provide $18
billion to replenish IMF resources, drained by multibillion
dollar rescue deals for Indonesia, South Korea and Thailand. 
         The Senate has approved the funding, but the package has
stalled in the House amid criticism by some Democrats and
Republicans. They say the IMF is too secretive and the $18
billion price tag too high. 
         "I believe we have an obligation to the people of
America to look critically at the International Monetary Fund,"
Gingrich said. 
         The Georgia Republican said additional hearings on the
IMF would be held. 
         "When we have finished the hearings -- and we are
prepared to have appropriate requirements to get transparency and
accountability out of the International Monetary Fund -- we will
bring an appropriate bill to the floor this year in the
appropriate way," Gingrich told the House.