    [Public Papers of the Presidents of the United States: William J. Clinton (1998, Book I)]
    [March 27, 1998]
    [Pages 455-456]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on Senate Action on Supplemental Budget Legislation
    March 27, 1998

        I am pleased that the Senate has approved important legislation to
    provide funding for victims of natural disasters, for support of our
    forces in Bosnia and the Persian Gulf, and to deal with the risk to
    financial stability around the world.
        It is particularly important that the Senate, by a vote of 86-14,
    provided the International Monetary Fund with resources it needs to help
    stabilize Asian economies. The crisis in Asia poses a threat to American
    jobs and exports, and we already have seen evidence that weaknesses in
    economies there are having an impact here. To ensure that the American
    economy continues on the path of steady growth, Congress must make sure
    that the IMF is strong enough to respond to any broadening of the
    current crisis. And because the IMF functions like an international
    credit union, paying our share won't cost American taxpayers a dime.
        I am also pleased that the emergency funding in this bill will allow
    our military forces to continue their missions in Bosnia and the Persian
    Gulf without impairing the high readiness level of our forces worldwide.
        At the same time, I remain concerned that the Senate bill does not
    address the matter of United Nations arrears. This continues to undercut
    our global leadership.

    [[Page 456]]

        I hope that the House of Representatives will act to fund all these
    critical activities before it returns home for recess.