Congress Should Block the Morally Hazardous IMF “Reform” Package

A little-known provision purported to be in the fiscal year 2014 omnibus spending bill currently being debated in Congress would chip off yet another little piece of American sovereignty—handing it and potentially billions of U.S. taxpayer dollars over to international civil servants at the International Monetary Fund (IMF) to bail out economically distressed countries. Congress should decline to approve the IMF reform package and send it back for further revisions: i.e., a guarantee that the U.S. will retain the unilateral right to appoint its own representative to the Executive Board and the abolition of the supplemental facility so that it cannot be used in the future as an additional source of morally hazardous lending during the next “crisis.”

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