[stop-imf] U.S. Steelworkers Pres Becker on IMF

[Robert Weissman]

USWA PRESIDENT URGES STEEL TRADE UNIONISTS WORLDWIDE TO DEMAND IMF AND
WORLD BANK   REFORMS 

   BODY: 
      PR Newswire, London, April 10. This press release is transmitted on
behalf of United Steelworkers of America 

   Washington - United Steelworkers of America (USWA) President George
Becker urged a worldwide gathering of steel industry
   trade unionists to unite in challenging "IMF and World Bank policies
that impoverish whole societies." 

   In opening remarks to the International Metalworkers Federation World
Steel Conference, Becker said that the current "free
   trade" philosophy behind the IMF and World Bank policies "subjugates
developing countries -- especially those in crises -- to
   the reckless greed of Wall Street investors." 

   He termed the IMF's insistence on "labor flexibility" under the
Structural Adjustment Policies it imposes on countries, "a fig leaf
   incapable of hiding the strategy of driving down the cost of wages
worldwide." 

   Becker expressed sympathy for the plight of developing nations
hamstrung by the IMF's policies. "They're forced to accept
   domestic austerity programs that inevitably trigger a fire sale of
exports in search of U.S. dollars to pay their Wall Street
   debtors," he said. 

   "Instead of punishing speculators, the IMF punishes workers in its
drive to make sure the banks are all bailed out, no matter
   how reckless their investments have been." 

   The Steelworkers President also said that Permanent Normal Trade
Relations for China must be defeated in Congress to prevent
   the free world from turning its back on some of the worst examples of
worker oppression on the globe. "Who will speak for
   oppressed Chinese workers, if we don't?" he asked. "Who will slow the
race to the bottom on wages, if not us?" 

   Becker also urged support for the AFL-CIO's debt relief initiative for
developing nations, and called on conference attendees to
   unite in demanding IMF and World Bank reforms, including policies that: 

   Employ the clout and leverage of global financial institutions to bring
about social justice as well as return on investment; 

   Demand respect for internationally recognized and enforceable workers'
rights; 

   Acknowledge the necessity of environmental standards in order to
sustain growth; 

   Reschedule debts with longer maturities and more favorable terms; and, 

   Ensure that financial losses are shared by those who make risky
investments in the first place. 

   Becker said the reforms could be brought about if "we make our
governments understand that social justice is the only true
   measure of economic progress." 

   For further information, contact Marco Trbovich of the United
Steelworkers of America, +1 412-418-7513 or +1 202-778-4384 

   Web site: http://www.uswa.org 

   UNS 

   Contact: Marco Trbovich of the United Steelworkers of America, +1
412-418-7513 or +1 202-778-4384/ /Web site:
   http://www.uswa.org / PAP0001 4 FXX BT 838 BT ING MEDIA ADDRESS +ZZZ
VVV NFL NEX 

   LANGUAGE: ENGLISH 

   LOAD-DATE: April 11, 2000 

Chris McGinn