03.26.2014 0

$63 billion IMF bailout stripped out of Ukraine aid bill

IMFA bill designating aid funds to Ukraine was previously on hold pending an enormous bailout for the International Monetary Fund (IMF) –an additional $63 billion in new quota money for the IMF, as was previously reported on NetRight Daily. That portion of the bill has been dropped in exchange for a far more reasonable (and helpful) $1 billion loan guarantee to Ukraine. Americans for Limited Government President Nathan Mehrens stated the following in response to the change:

“There never was a good reason to hold up the Ukraine aid legislation in order to give another $63 billion to the IMF to bail out banks that foolishly lent money to bankrupt European governments. Senate Republicans are to be praised for insisting to Harry Reid that it be removed. It should have never been included in the first place.

“In the face of Russia’s threats against Ukraine, it always was irresponsible to hold these loans hostage in order to achieve unrelated funding for the IMF, as if U.S. credibility abroad was something to be bargained with.”

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