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Gold/Mining/Energy : Gold Price Monitor

GDXJ 104.49

-2.1%

Dec 8 4:00 PM EST

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To: Hawkmoon who wrote (57717)	8/31/2000 8:05:34 AM
From: long-gone	of 116801

note: The Treasury not my elected representatives in Congress Bereuter Calls IMF Recommendations Dramatic, Helpful International Relations Committee Vice Chairman Criticizes Treasury Department's Reluctance to Support Reform WASHINGTON, Mar. 10— Congressman Doug Bereuter (Ne-R), Vice Chairman of the House Committee on International Relations and a senior member of the House Banking Committee, today called on the congressional banking committees to use their influence to push for reforms of the International Monetary Fund (IMF). Bereuter criticized the U.S. Treasury Department's continuing reluctance to press for IMF reform. Reacting to a report released by the International Financial Institution Advisory Commission, Bereuter said, "Congress has lost confidence in the IMF. The IMF and its defenders in the Treasury Department have been unwilling to admit its errors and recent misjudgments. "At the same time, if we didn't have the IMF or an institution like it, we would have to create one. The first step in the process of reform is to admit the recent failures of the IMF. That is something that the Administration has been unwilling to do, because in reality it is the U.S. Treasury that dictates important IMF policy. This resistance to reform is unfortunate, for we may always have a European in charge of the IMF, but in fact the U.S. Treasury Department under any Administration calls the shots on crucial policy matters. Nothing of substance happens at the IMF unless Treasury approves." (cont) gop.gov

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