[Congressional Record Volume 144, Number 16 (Thursday, February 26, 1998)]
[House]
[Page H636]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




       CONGRESS SHOULD REJECT SUPPLEMENTAL APPROPRIATION FOR IMF

  (Mr. KUCINICH asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. KUCINICH. Mr. Speaker, a supplemental appropriation for the 
International Monetary Fund, IMF, is rushing toward the Congress. 
Against the backdrop of headlines coming from Asia, the supplemental 
appropriation would seem to be needed for an emergency. The fact is, 
the supplemental appropriation is not needed to bail out Asian 
borrowers. The bailout has already taken place with existing IMF funds.
  The supplemental is not needed on an emergency basis. Instead, the 
supplemental appropriation is a back-door attempt to increase the size 
and scope of the IMF. The $18 billion supplemental appropriation would 
be the U.S. share of a planned 45 percent increase in the size of the 
IMF and in its magnitude.
  Mr. Speaker, IMF proponents are counting on confusing Congress and 
the country in order to preclude careful scrutiny and push through a 
big increase in its size. The real question before this Congress should 
be do we really want to expand the size and scope of the IMF? Has the 
IMF been helpful or harmful? Are there changes we want?
  Mr. Speaker, do we not want to find the answers to these questions 
before we commit $18 billion to the IMF? The only way to get time to 
answer those and other questions is to first reject the supplemental 
appropriation.

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