June 06, 2005

MEDIA ADVISORY: INTERNATIONAL MONETARY FUND HEARING TO ADDRESS ROLE IN FINANCIAL WORLD

Washington, DC â??Idaho Senator Mike Crapo, Chairman of the Banking, Housing and Urban Affairs International Trade and Finance Subcommittee, will chair an oversight hearing on the International Monetary Fund (IMF) on Tuesday. The witnesses will discuss the progress on reforming the IMF, Argentinaâ??s debt repayment agreement with the IMF, Chinaâ??s ten-year fixed exchange rate between the dollar and the yuan, and a potential IMF gold sale as a means of financing debt reduction for poorer nations. The panel will feature:â?¢Randal Quarles, Acting Under Secretary of the Treasury for International Affairsâ?¢Dr. Allan Melzter, Professor of Political Economy at Carnegie Mellon Universityâ?¢Dr. C. Fred Bergsten, Director of the Institute for International Economics. For more information regarding the hearing, visit the Banking Committee website at http://banking.senate.gov/.