FOR IMMEDIATE RELEASE:
April 11, 1999
Buchanan On 'Debt Forgiveness':
MAKE IMF & WORLD BANK
'EAT' LOST BILLIONS!
Today, Pat Buchanan released the following statement:
"Demonstrators and globalists agree that highly indebted poor nations should
be using their scarce tax revenues for sanitation, health, and education, not
to pay back old loans to rich nations or international banks.
"But it is a time for truth. 'Debt forgiveness' is a fancy phrase for shifting the
total burden of defaulted debts off Third World regimes and onto the backs of
American taxpayers. These loans are not being wiped off the books; they are
being added to the U.S. national debt.
"Before one dime in 'loan forgiveness' is granted to any Third World
government, the American people have a right to know who lost, who looted,
and who stole the billions of dollars we are being asked to forgive.
"We need responsibility; we need a full accounting of how the generosity of
the American people was criminally abused -- by incompetent or corrupt
lending officers at the IMF and World Bank, and by the assorted dictators
and thieves who stole or squandered the billions in aid intended for the
peoples they misruled. We have a right to know the names of those who lost
or stole the money, and to an accounting of any and all efforts to recover the
looted billions.
"If anyone should be forced to 'eat' these incredible losses of foreign aid
loans, it is not U.S. taxpayers who bear no fault, but international bankers at
the IMF, World Bank, and other globalist institutions who deceived us when
they said the loans were good.
"If heads roll at the IMF and World Bank, and both institutions are docked for
the losses for which they are responsible, this would be simple justice; and
there will be a far greater likelihood that future lending will be more
responsible."
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