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To: patrick tang who wrote (30157)	3/14/1998 10:40:00 AM
From: Earlie	Respond to of 53903

Patrick: I agree. Total promised to S. Korea, $54.0 billion plus. 13 nations that promised $8.0 billion if Korea obtained agreement with the banks (which they did) now say, "we're going to wait to see how well your bonds sell before the money will be sent". Joke. IMF is effectively bust, given the required dollars. Senate states that they'll provide $3.5 billion now" (of $18.5 billion requested), and that the rest MIGHT be allocated later, "but will have strings attached". Another joke. U.S. still owes $3.5 billion to IMF from last year. U.S. provides approximately 40% of IMF funding. Even if IMF got the $18.5 billion, which it won't, the whole exercise is smoke and mirrors, given the $200 billion to $300.0 billion needed. The IMF is a P.R. exercise Best, Earlie