Sen. Mike Crapo, R-Idaho, vice chairman of the Subcommittee on International Trade and Finance, has announced an oversight hearing on multilateral development institutions, such as the World Bank and other regional development banks.

"The policies and practices of the World Bank and other multilateral development banks clearly impact our country's monetary affairs and the overall well-being of the international economy," Crapo said. "While U.S. taxpayers have provided millions of dollars to support the activities of these institutions, it is questionable whether these expenditures have truly helped needy nations. We must seize this opportunity to assure the proper use of limited resources and that there is efficiency, transparency and accountability in these institutions."

This is the third in a series of full committee and subcommittee hearings focusing on the International Financial Institution Advisory Commission's final report outlining changes needed in international financial institutions.

WHAT:

Subcommittee on International Trade and Finance

WHEN:

9:30 a.m. Thursday, June 8, 2000

WHERE:

Room 538, Senate Dirksen Building

WHO:

Dr. Allan Meltzer, Ph.D.
Chairman, International Financial Institution Advisory Commission
Professor, Graduate School of Industrial Administration
Carnegie Mellon University

Dr. C. Fred Bergsten
Member
International Financial Institution Advisory Commission

Dr. James B. Burnham, Ph.D.
Professor
Duquesne University
A.J. Palumbo School of Business

Dr. Adam Lerrick
Senior Advisor
International Financial Institution Advisory Commission