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For Immediate Release                                                                         July 20, 1998


IMF Hearing Advisory

      WASHINGTON, D.C. -- The Joint Economic Committee (JEC) will hold a hearing on the International Monetary Fund's (IMF) finances and its lack of transparency, JEC Chairman Jim Saxton (R-N.J.) announced today.

      Testifying at the hearing will be a General Accounting Office (GAO) official. Saxton asked the GAO earlier this year to review IMF finances and evaluate their transparency. The GAO official is expected to present the preliminary findings of the agency's review.

      This hearing will allow Congress to examine the basic finances of the IMF. The amount of assets, loans, and available funds will be reviewed.

HEARING TOPIC: Transparency and Financial Structure of the IMF

TIME: 10 a.m.

DATE: Thursday, July 23, 1998

ROOM: 2220 Rayburn House Office Building

WITNESS: Representative of the General Accounting Office (GAO)



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Press Release: #105-154






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