Senate Debates IMF Funding

Jan. 13, 2005
Recent severe drops in the equity markets, which analysts say have been largely caused by investor nervousness over the economic crises in Russia and Asia, might give momentum to passage of controversial funding legislation for the International Monetary ...

Recent severe drops in the equity markets, which analysts say have been largely caused by investor nervousness over the economic crises in Russia and Asia, might give momentum to passage of controversial funding legislation for the International Monetary Fund (IMF). As part of a fiscal 1999 appropriations bill, the Senate this week is debating the Administrations $18 billion request for the agency, which includes a special $3.4 billion fund to deal with foreign economic crises.

The Senate is expected to go along with the request, but strong opposition remains in the House, where many conservatives believe that IMF bailouts of troubled economies have been ineffective. House Majority Leader Dick Armey (R, Tex.) insists that any renewed funding legislation require the IMF to undertake management reforms. The House Appropriations Committee will take up the measure next week.

Industry groups strongly support the increased funding.

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

Adopting an Open Ecosystem: The Way Forward for Frontline Operations

March 11, 2024
Today's manufacturing tech stack thrives on connectivity, integrating new and legacy players for a seamless operation - not on monolithic systems. Embrace the future of frontline...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!