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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
The Exchange Stabilization Fund: Slush Money or War Chest?

The Exchange Stabilization Fund: Slush Money or War Chest?

Henning, C. Randall

Paperback

Series: Policy Analyses in International Economics, Book 57

EconomicsInvesting & Finance

ISBN10: 0881322717
ISBN13: 9780881322712
Publisher: Peterson Inst For Intl Economi
Published: Apr 1 1999
Pages: 140
Weight: 0.40
Height: 0.28 Width: 6.00 Depth: 9.01
Language: English

The Exchange Stabilization Fund (ESF) holds more than $40 billion that is at the disposal of the US Secretary of the Treasury for use in foreign exchange intervention and international financial support operations. Its use in the Mexican rescue package of 1995 brought the ESF into the public spotlight for the first time in recent years, and it has been deployed in Brazil and several Asian crisis countries as well. Its availability for such packages and its total control by the Treasury secretary have therefore become very controversial.

Randall Henning's study maintains that the Fund is an important element of US foreign policy and economic policy and that it should remain under the exclusive control of the Treasury, but that Congress should exercise effective oversight. Henning also covers the legislative history of the ESF and outlines the principles by which the Fund should be administered.

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