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      Washington, D.C. – Joint Economic Committee (JEC) Chairman Jim Saxton called on the International Monetary Fund (IMF) to publicly release its staff appraisals of the agency's Russian assistance program. Saxton has also repeatedly asked the IMF to publicly release its staff appraisals of its programs in Indonesia, Korea, and Thailand, as well as the IMF budget. To date, the IMF has failed to publicly release these documents.

      "In recent days doubts about the IMF's programs have been expressed in The Economist, Wall Street Journal, Financial Times, and elsewhere," Saxton said. "An examination of the IMF's own staff appraisals of its programs by academic specialists is long overdue.

      "The IMF and the Treasury are seeking an $18 billion appropriation for the IMF, but do not appear willing to permit an independent review of the agency's activities," Saxton said. "In addition, the public release of the IMF budget is needed to enable Congress to make informed decisions about IMF reform and funding. The extension of another loan to Russia makes it even more important that the IMF clearly explain its policies."

      For additional information about the IMF and its reform, please see the IMF reform page at the JEC website (www.house.gov/jec/).

Press Release: #105-152

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