William Helms: “President Clinton and the International Monetary Fund have shifted…”

On the recordMarch 24, 1998

President Clinton and the International Monetary Fund have shifted into overdrive in their effort to save the economies of Indonesia, the Philippines, South Korea and Thailand--or, to be more accurate, to save the pocketbooks of international investors who could face a tide of defaults if these markets are not now shored up. But this must be the last time that the IMF acts in this capacity. If it is not, further bailouts, unprecedented in scope, will follow. Therefore, Congress should allocate no further funds to the IMF.

Said by

William Helms

Republican · New Jersey

Source

govinfo.gov

Editor's note · Context

Discussing the role of the IMF and U.S. funding during a speech on the Senate floor.

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William Helms: “President Clinton and the International Monetary Fund have shifted into overdrive in their effort to save the economies…”

Editor's note · Context