Expressing the sense of the Congress in opposition to the use of proceeds from gold sales by the International Monetary Fund for structural adjustment programs in developing countries.

Summary

Expresses the sense of Congress that: (1) the external debt of developing countries with Enhanced Structural Adjustment Facility (ESAF) loans nearly doubled and their economic growth was slower than that for non-ESAF developing countries; (2) poor countries should no longer have to go through years of harsh International Monetary Fund (IMF)-imposed policies; (3) it should be U.S. policy to oppose gold sales to fund the IMF's ESAF program; and (4) any proceeds from the sale or other conversion of IMF gold stocks should go directly to cancel debts owed to the IMF and not to programs controlled by the IMF or the World Bank.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 14 June 1999

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• Introduced in House (PDF)

  Introduced in House · EN · 14 June 1999

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• Introduced in House

  summary · EN · 14 June 1999

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