![image: [ Robert Rubin helped arrange Korean IMF bailout ]](/olmedia/65000/images/_66692_rubin_and_korean300.jpg)
The United States treasury secretary, Robert Rubin, has strongly criticised a congressional deal on the financing of the International Monetary Fund.
He has described legislation which would approve billions of dollars' worth of funds as "genuinely unworkable".
His criticism is directed at conditions attached to the bill, which senators had hoped would change the way the IMF does business.
Our Washington correspondent, Philippa Thomas, reports:
The resources of the International Monetary Fund have been severely drained by the recent rescue packages in Asia, totalling more than $100bn.
So the overwhelming approval of a finance package by the influential Senate Appropriations Committee looked at first like good news for the IMF, bringing in another $18bn.
What is controversial are the conditions attached to that funding - a series of reforms which could well prevent the legislation from passing into law.
The senators call on the IMF to be more open to congressional audits.
They call for regular reports by the US treasury on IMF operations, and they say countries which receive IMF aid should comply with international trade regulations and be prepared to treat domestic and foreign creditors more equally.
In his reaction, the treasury secretary, Robert Rubin, said that some of the conditions would require the agreement of all 182 members of the IMF.
He described aspects of the deal as extremely impractical and likely to delay indefinitely America's contribution.
A risk which, he said, should not be taken at a time of international financial crisis.
Senate committee approves big cash injection for IMF
(18 Mar 98 | World)
IMF web site
The IMF Funding Debate - from policy.com
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