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To: TLindt who wrote (21530)10/13/1998 2:51:00 PM
From: Alex  Respond to of 116762
 
Rubin expects Congress to approve full IMF funding

WASHINGTON, Oct 13 (Reuters) - U.S. Treasury Secretary Robert Rubin said on Tuesday he expected Congress to approve the Clinton administration's full request of $18 billion in funding for the International Monetary Fund.

After meeting with top Congressional Republicans, Rubin told reporters: ''It would be fair to say there's a general expectation that this will lead to full funding for the IMF and also to real reform at the IMF in response to concerns'' by Republicans and Democrats in Congress.

Rubin said there were still details that needed to be worked out before a deal between the administration and the Republican-led Congress could be finalized.

''There's a set of provisions that will lead to reforms that all concerned feel are constructive,'' Rubin said.

biz.yahoo.com



To: TLindt who wrote (21530)10/13/1998 4:53:00 PM
From: Al Cern  Read Replies (1) | Respond to of 116762
 
TLindt,

Sounds like were in for low interest rates, no creditworthy borrowers or lenders left, revaluation (downward) of assets, a down US$. Gee Don Green, I wonder where I've heard this song before. Seems like a pretty good argument to hold gold instead of US$.

Sincerely,

Al Cern