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Gold/Mining/Energy : Caussa Capital (formerly Antares) T.CAU -- Ignore unavailable to you. Want to Upgrade?

To: bill718 who wrote (2448)	1/29/1998 12:24:00 PM
From: bill718	Respond to of 4718

Good news from Greenspan re. Asia: Thursday January 29, 11:44 am Eastern Time Greenspan wants Congress to approve U.S. IMF funds WASHINGTON, Jan 29 (Reuters) - U.S. Federal Reserve Chairman Alan Greenspan said on Thursday he would recommend Congress approve additional funding for the International Monetary Fund, although the money might not be needed. ''I will be...recommending to the Congress that they authorize the administration's request for the expansion of funds to the IMF, which I suspect may not actually ever have to be used,'' Greenspan told the Senate Budget Committee. Greenspan noted that U.S. money to the IMF were not grants, but were loans and the United States received interest on these loans. It was important that the money be approved ''in the low probability'' that a crisis like that in Asia occurred again. He added that it was an illusion to suggest that every investor or lender in the Asian financial crisis had been bailed out by the IMF rescue packages.