[Congressional Record Volume 144, Number 125 (Friday, September 18, 1998)]
[House]
[Page H8079]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              RECHARGE IMF

  (Mr. BARRETT of Nebraska asked and was given permission to address 
the House for 1 minute and to revise and extend his remarks.)
  Mr. BARRETT of Nebraska. Mr. Speaker, agriculture needs to have the 
International Monetary Fund recharged so that our markets in Asia and 
elsewhere can once again become stable trading partners.
  Yet, we have heard some say Congress should not recharge the reserves 
because the IMF has not been successful in helping ailing currencies.
  The causes of Asia's currency problems are far too complex to lay 
blame, entire blame with the IMF. However, there is a simple truth: 
When Asia's economies suffer, so do American exports and jobs.
  We must redefine our relationship with the IMF so that we get a 
better accounting of how our limited tax dollars are used. Yet, 
reforming this relationship and recharging the IMF's reserves do not 
need to cancel each other. The House should follow the Senate's lead in 
approving IMF's recharge, while at the same time placing conditions on 
the use of these funds.
  The sooner Asia's currency is rebound, the sooner agriculture can 
export our surpluses.

                          ____________________