NAM on IMF

[Robert Weissman <rob@essential.org>]

FOR IMMEDIATE RELEASE

         Jasinowski Cites Deepening Recession in Japan, Across Asia

     WASHINGTON, D.C., June 18, 1998 P National Association of
     Manufacturers President Jerry Jasinowski today urged Congress to
     move quickly on an $18 billion supplemental appropriation for the
     International Monetary Fund.

     "With each passing week, the severity and spread of the financial
     crisis in Asia becomes more and more apparent on the bottom line
     of American manufacturers," Jasinowski wrote in a letter
     hand-delivered to every member of Congress. "Let us be clear about
     the IMF. It has made mistakes and is in need of reforms. However,
     the time to reform the fire department is not when a fire is
     raging increasingly close to home. When American global leadership
     is required, the Congress has never failed to respond."

     The NAM is the oldest broad-based trade association in the nation,
     representing 14,000 member companies (10,000 of which are small
     and medium sized) that account for 85 percent of goods
     manufactured in the United States.

     Be sure to visit the NAMUs website at www.nam.org for more
     information about legislative, policy and workplace developments
     affecting manufacturers, employees and the U.S. economy.