I rise to oppose this well intentioned amendment by the distinguished Senator from Pennsylvania. Obviously, when the United States does make international loans, we should have assurances that the recipient will be able to repay them. Granting loans to countries in the former Soviet Union is in our best interest. A solvent Russia is imperative if democracy is to flourish there. Russia is in serious need of assistance. And we will regret it in the long run if we turn our backs on the reformers in that country. Adopting this measure, which singles out the countries of the former Soviet Union, will lend the appearance that the United States is seeking to gain possession of the natural resources of those countries. We do not require other countries to use collateral, but the issue is beyond that. Nationalists will argue that this provision converts loans into a Trojan horse for foreign domination, strengthening the radicals. Zhirinovsky will relish this. He will announce that the true aims of the United States toward Russia have surfaced; that now that we have crippled them we are set to plunder their resources. These are clearly not our aims and I would not want them to be misconstrued as such. Every effort must be made to encourage democratic reforms in the former Soviet Union and to assist in economic reforms. This amendment strays from that purpose and must be opposed.
Editor's note · Context
Moynihan opposes an amendment regarding international loans to former Soviet countries.
Share
More from Patrick Moynihan
the Arab League boycott--always repugnant--is now especially anachronistic and an obstacle to peace. Everyone agrees that in large measure the success of the peace efforts now underway will depend upon whether peace produces tangible…
I have in mind the two quantifiable goals in the bill before us. These are, No. 2: School completion. Goal: By the year 2000, the high school graduation rate will increase to at least 90 percent. Madam President, that will not happen. No…
I rise today to recognize an individual who has very ably served the Senate Finance Committee and the Congress for the past quarter century. Earlier this month, during the recess period, Jeanne Roby retired from the staff of the Finance…
I rise as a cosponsor of the Republican leader's bipartisan measure, and I would like to echo his theme, which is to say that it is not too late. It is possible, I know, to have reached the contrary judgment. It is possible, that when CNN…





