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To: DMaA who wrote (7412)	9/3/1998 12:57:00 PM
From: DMaA	Respond to of 22640

Are the IMF's pockets empty or not? Who's lying, Clinton, Camdessus, or (probably) both: 9/3/98 AP "Senate Approves IMF Money The Senate has approved the money the Clinton administration wants for the International Monetary Fund while erecting new obstacles to U.S. dealings with North Korea. A fiscal 1999 foreign aid spending bill passed by the Senate Wednesday includes the $18 billion President Clinton says is crucial if the IMF is to cope with the world economic crisis that has spread from Asia to Russia and threatens Latin America. It also includes a provision requiring the president to assure that the government of North Korea is not developing nuclear weapons or exporting ballistic missiles to terrorist nations. The president told reporters in Moscow that the United States had ''an extra obligation'' as the world's largest economy to support the IMF and help Russia and Japan work through their economic troubles. IMF funding still faces an uphill battle in the House, where some conservatives question funding for international lending institutions and demand that the IMF reform its lending practices before it gets any more U.S. money. House Speaker Newt Gingrich, R-Ga., a proponent of IMF reform, wrote Treasury Secretary Robert Rubin Wednesday saying IMF efforts to bail out Russia have achieved little. ''The IMF seems to expect that Moscow will come to its senses and embrace real economic reform without being required to do so by its lender,'' he wrote. Rubin, in a letter to Gingrich a day earlier, said he agreed on the need for reform but added, ''We simply cannot afford any further delay in providing the IMF with the resources it requires to help contain the threat of further financial and political instability around the world.'' The Senate has generally been more sympathetic to IMF funding and approved the $18 billion amount last March in an emergency spending bill. But the House wouldn't go along. ''The evidence is now undeniable that the IMF has played a destabilizing role in world financial affairs. We must reject the president's no-strings-attached $18 billion request and instead adopt IMF reforms,'' said House Majority Leader Dick Armey, R-Texas, a leading opponent of IMF funding.