More on International Finance and Monetary Organizations
WASHINGTON, DC – The House of Representatives today approved legislation to aid U.S. exporters by passing the Export-Import Bank Reauthorization (S. 3938). With this action, the House not only moved to reauthorize the Export-Import Bank, but at the same time it approved new provisions to protect the U.S. export economy from being threatened by China, which is effectively subsidizing its exports, and to stoke small business exporting.
REP. MALONEY, AUTHOR OF IRAQI FREEDOM FROM DEBT ACT BLASTS ADMINISTRATION'S COMMITMENT TO DEBT RELIEF
WASHINGTON, DC - The president has asked the leaders of France, Germany and Russia to forgive their substantial Iraqi debts one day after the Department of Defense excluded those same countries from reconstruction contracts. Rep. Carolyn Maloney (NY-14), Ranking Member on the Domestic and International Monetary Policy, Trade and Technology Subcommittee and author of the Iraqi Freedom from Debt Act (H.R. 2482) reacted to the reports today:
WASHINGTON - Today, Rep. Carolyn Maloney (D-NY) and Rep. Jim Leach (R-IA) announced the introduction of H.R. 2482, legislation requiring the Treasury Secretary to use influence the World Bank and IMF to cancel or radically reduce the approximately $150 million of debt Iraq owes to the institutions. The legislation also includes a sense of Congress asking the President to urge France, Russian and all other public and private creditors to relieve Iraq of its debts.
It is my pleasure to join my colleagues in the effort to reauthorize the Export-Import Bank.