“The failure to restore this funding as directed by Congress is a disservice to the thousands of election jurisdictions across this country.”

Political Quotes

Jim Saxton: “During the past several months, I have warned time and again that the International Monetary Fund's lending policies are…”

On the recordMarch 24, 1998
During the past several months, I have warned time and again that the International Monetary Fund's lending policies are counterproductive. That is because they lend at rates far below market rates. That practice, in and of itself, generates demand for even more low interest rate loans. That is called moral hazard. Yesterday's Financial Times, published in the U.K., reported that European central bankers agree with my position. They attack the bailout practices of the IMF, and they say it will be putting forward proposals next month that would involve commercial banks at an earlier stage. The criticism reflects concern about the IMF's handling of the Asia financial crisis. Hans Tietmeyer, president of the Bundesbank said, the multibillion dollar international rescue plans for Thailand, South Korea, Malaysia and Indonesia could encourage reckless banking practices. The IMF should reevaluate its policies, he said.
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Jim Saxton
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govinfo.gov

Editor's note · Context

Addressing concerns about the International Monetary Fund's lending policies and their impact on the Asia financial crisis.

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