HTML _ 98-589 - U.S. Agriculture and the International Monetary Fund
6-Jul-1998; Charles Hanrahan; 6 p.

Abstract: Congress is considering legislation to provide supplemental resources to the International Monetary Fund (IMF) to strengthen its ability to deal with future financial crises like those currently in Asia and in 1994-95 in Mexico. many in U.S. agriculture think the pending legislation has important implications for U.S. agriculture trade and farm income. In general, most agricultural groups believe that the IMF plays a positive role in promoting global economic growth and of stering conditions that result in enhanced prospects of U.S. farmers. Some in agriculture, however, share with others concerns that IMF lending represents a ¨moral hazard¨ by encouraging governments and banks to engage in kinds of imprudent behavior then lending is supposed to remedy. Others criticize the effectiveness of IMF conditions imposed in exchange for new loans and the lack of transparency in IMF operations. [read report]

Topics: Agriculture, International, Economics & Trade

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