Short of Cash

A battle over aid to the IMF

Just to judge from the opposing lineups, it looked like a fierce but unequal contest. On one side stood President Reagan, Federal Reserve Chairman Paul Volcker and many of the mightiest bankers in the U.S. and abroad. On the other side was an unusual left-right coalition that included religious and environmental groups as well as Consumer Advocate Ralph Nader and conservative Congressmen like Jack Kemp. At issue was a plan, already passed by the Senate, for the U.S. to pump an additional $8.1 billion into the International...

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