Print Friendly HOUSE JOINT MEMORIAL NO. 23 – World Bank, opposition requested
HOUSE JOINT MEMORIAL NO. 23
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HJM023.....................................................by STATE AFFAIRS
WORLD BANK OPPOSITION - Stating findings of the Legislature and requesting
that Congress and the United States Secretary of the Treasury oppose the
World Bank, the International Monetary Fund and other international
financial institutions until certain economic programs are formulated.
03/15 House intro - 1st rdg - to printing
03/16 Rpt prt - to St Aff
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]]
Fifty-eighth Legislature Second Regular Session - 2006
IN THE HOUSE OF REPRESENTATIVES
HOUSE JOINT MEMORIAL NO. 23
BY STATE AFFAIRS COMMITTEE
1 A JOINT MEMORIAL
2 TO THE UNITED STATES SECRETARY OF THE TREASURY, TO THE SENATE AND HOUSE OF
3 REPRESENTATIVES OF THE UNITED STATES IN CONGRESS ASSEMBLED, AND TO THE
4 CONGRESSIONAL DELEGATION REPRESENTING THE STATE OF IDAHO IN THE CONGRESS
5 OF THE UNITED STATES.
6 We, your Memorialists, the House of Representatives and the Senate of the
7 State of Idaho assembled in the Second Regular Session of the Fifty-eighth
8 Idaho Legislature, do hereby respectfully represent that:
9 WHEREAS, capital resources of the Idaho and United States taxpayer, as
10 well as capital resources of international financial institutions, are scarce
11 and limited; and
12 WHEREAS, the Congress of the United States appropriates funds to interna-
13 tional financial institutions through capital replenishment; and
14 WHEREAS, lending practices by international financial institutions are
15 formulated without vital public scrutiny and debate and there are few checks
16 and balances to ensure that international financial institutions are acting in
17 the best interests of the countries to whom they lend; and
18 WHEREAS, the United States executive directors of these international
19 financial institutions should vote for and approve loans to countries whose
20 policies are consistent with the economic, environmental and national security
21 interests of the United States; and
22 WHEREAS, international financial institutions have isolated developing
23 countries from free market reforms by imposing severe economic austerity mea-
24 sures; and
25 WHEREAS, severe economic austerity measures are the cause and source of
26 much social, political and economic instability in the world.
27 NOW, THEREFORE, BE IT RESOLVED by the members of the Second Regular Ses-
28 sion of the Fifty-eighth Idaho Legislature, the House of Representatives and
29 the Senate concurring therein, that we request that Congress and the United
30 States Secretary of the Treasury oppose the World Bank, the International Mon-
31 etary Fund and other international financial institutions' loans or aid by use
32 of its voice and vote until such time as the United States Secretary of the
33 Treasury shall determine that the several international financial institu-
34 tions' executive directors and the borrowing countries have formulated an eco-
35 nomic program that determines how funds of the World Bank, the International
36 Monetary Fund and other international financial institutions' assistance pro-
37 grams shall provide the basis for correcting the borrowers' out-of-balance
38 payment deficits, reduce the severe constraints on the borrowing countries'
39 labor forces and capital mobility in order to advance market-oriented domestic
40 interests, minimize negative environmental impact upon borrowing countries and
41 the global community and establish social, political, economic, anti-human
42 trafficking and antiterrorist reforms for humankind.
43 BE IT FURTHER RESOLVED that Congress and Idaho's congressional delegation
44 shall be requested to further discourage such wrongful investment by interna-
1 tional financial institutions by reducing any future recapitalization by an
2 amount equal to the proportionate share of those loans that are not in keeping
3 with the economic, environmental, and national security interests of the
4 United States.
5 BE IT FURTHER RESOLVED that the United States Secretary of the Treasury is
6 encouraged to annually review the budgets and accounts and activities of the
7 international financial institutions and to annually report his or her find-
8 ings to the general public and Congress.
9 BE IT FURTHER RESOLVED that the Chief Clerk of the House of Representa-
10 tives be, and she is hereby authorized and directed to forward a copy of this
11 Memorial to the United States Secretary of the Treasury, to the President of
12 the Senate and the Speaker of the House of Representatives of Congress, and
13 the congressional delegation representing the State of Idaho in the Congress
14 of the United States.
STATEMENT OF PURPOSE
A Joint Memorial to the U.S. Congress and to the congressional
delegation representing the State of Idaho to oppose loans or aid
considered by World Bank, the International Monetary Fund and
other international financial institutions that are not in
keeping with the economic, environmental, and national security
interests of the United States until certain conditions are met.
There is no fiscal impact to the state General Fund.
Name: Rep. Russ Mathews
Phone: (208) 332-1000
STATEMENT OF PURPOSE/FISCAL NOTE HJM 23