ALG - $63 billion IMF bailout stripped out of Ukraine aid bill


March 25, 2014, Fairfax, Va.—Americans for Limited Government President Nathan Mehrens today issued the following statement praising Senate Republicans for stripping an additional $63 billion in new quota money for the International Monetary Fund (IMF) from a bill to offer a $1 billion loan guarantee to Ukraine:

"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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