Claims of U.S. apathy over crisis rejected<\/p>\n
BANGKOK (AFP): U.S. special envoy Larry Summers rejected
\nyesterday claims of U.S. apathy to Asia's financial crisis,
\nsaying Washington had a major stake in the stricken region and
\nwould ensure adequate financial support.<\/p>\n
Deputy Treasury Secretary Summers also gave a vote of
\nconfidence to the Thai government's efforts to implement its
\ncrucial International Monetary Fund (IMF) package, saying he was
\n\"very impressed\" with its progress.<\/p>\n
\"The U.S. has a very great stake in the prosperity of Asia,\"
\nhe said after meeting Prime Minister Chuan Leekpai, his economic
\n\"dream team\" and his foreign minister during a lightning visit
\nhere as President Bill Clinton's emissary.<\/p>\n
\"For trade reasons, for reasons of financial stability and for
\nreasons of national security, the U.S. has a very large stake in
\nAsia's prosperity and stability.<\/p>\n
\"There is no question that this is a critical foreign policy
\npriority for the U.S.\"<\/p>\n
Summers, on a hurried Asian sweep aimed at emphasizing U.S.
\nsupport for the crisis-ridden countries of the region, said
\nClinton had sent him here as Thailand was an \"important ally\" and
\nbecause \"we have an important stake in Thailand's economic
\nreform.\"<\/p>\n
\"We underscored in our talks with Thai officials that
\nfinancial stability in Thailand remains enormously important to
\nthe U.S.,\" he said.<\/p>\n
Thai officials at the talks Wednesday told AFP Summers had
\nemphasized the need for Thailand to continue with the IMF
\nreforms.<\/p>\n
The official said Chuan told the U.S. envoy that the \"Thai
\nmedia and people had criticized the United States for offering
\ntoo little help to Thailand compared to other countries.\"<\/p>\n
But he told Summers that he understood \"the limitations of the
\nU.S. government\" caused by a reticence of Congress to get
\ninvolved.<\/p>\n
Thailand's major English-language dailies Wednesday morning
\nslammed the United States' \"hands off approach\" to the economic
\ndownturn and warned of a \"backlash of resentment\" against
\nWashington.<\/p>\n
Media claims that Thailand wanted the United States to help
\nwith further injections of capital under the IMF program were
\ndenied by senior government officials who attended Wednesday's
\nmeeting.<\/p>\n
Tarrin however confirmed that he would meet U.S. Secretary of
\nState Madeleine Albright in Washington, and officials from the
\nNational Security Council, the IMF, World Bank and the
\nInternational Finance Corporation.<\/p>\n
The minister and other officials have said they want to see a
\nreview of some of the tough conditions imposed by the IMF on
\nBangkok in return for its US$17.2 billion rescue package.<\/p>\n
Summers took pains to stress that Washington had not
\noverlooked the gravity of Thailand's problems and would be
\ndiscussing them with Finance Minister Tarrin Nimmanaheminda
\nduring a visit to Washington next week.<\/p>\n
\"The U.S. ...will remain active in encouraging Thailand's
\nreform efforts under the IMF program,\" he said, adding that
\nWashington was \"very much looking forward\" to Tarrin's trip.<\/p>\n
Summers refused to be drawn on any specific U.S. plan to
\ninject more cash into the region, saying however that Washington
\nwould back IMF efforts in Thailand, Indonesia and South Korea.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/claims-of-us-apathy-over-crisis-rejected-1447893297",
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