FROM THE OFFICE OF PUBLIC AFFAIRS

October 15, 2004
JS-2033

Statement from Tony Fratto regarding the Report to Congress on
International Economic and Exchange Rate Policies

"The foreign exchange report has not been transmitted to Congress today. When the report is complete and has received review and clearance from the Secretary of the Treasury, it will be sent to Congress and made public.

Because of the scope and complexity of the foreign exchange report, it has often required more time to complete. In most occasions over the past 15 years of the report's existence, additional time needed for the preparation of the report has been required, with it transmitted to Congress weeks, and on some occasions, months late. In fact, the Treasury Secretary failed to transmit any reports in either 1997 or 1998 (see attached table). Last year's report was transmitted two weeks late to coincide with a scheduled Senate hearing on the issue.

While we always strive to meet the legislation's deadlines, sometimes delays are unavoidable, given the complexity of the issue and necessity of monitoring ongoing developments in the currency activity of our major trading partners."

-30-

Treasury's Report to Congress on International Economic and Exchange Rate Policies

Dates of submission -- October 1988-April 2004. (Source: U.S. Treasury Department)

 
Report Due  Submitted     
       
15-Oct-88  24-Oct-88     
15-Apr-89  Apr-89     
15-Oct-89  Oct-89     
15-Apr-90  18-Apr-90     
15-Oct-90  3-Dec-90     
15-Apr-91  May-91     
15-Oct-91  Nov-91     
15-Apr-92  May-92     
15-Oct-92  Dec-92     
       
15-Apr-93  May-93     
15-Oct-93  Nov-93     
15-Apr-94  Jul-94     
15-Oct-94  3-Jan-95     
15-Apr-95  25-Aug-95     
15-Oct-95  15-Dec-95     
15-Apr-96  9-Aug-96     
15-Oct-96  21-Feb-97     
15-Apr-97  No Report    
15-Oct-97  No Report     
15-Apr-98  No Report     
15-Oct-98  22-Jan-99 *Combines reports due 15-Apr-97, 15-Oct-97, 15 Apr-98 and 15-Oct-98
15-Apr-99  No Report     
15-Oct-99  3-Sep-99 *Combines reports due 15-Aprl-99 and 15-Oct 99   
15-Apr-00  9-Mar-00     
15-Oct-00  18-Jan-01     
       
15-Apr-01  22-Jun-01     
15-Oct-01  24-Oct-01     
15-Apr-02  24-Apr-02     
15-Oct-02  12-Nov-02     
15-Apr-03  2-May-03     
15-Oct-03  30-Oct-03     
15-Apr-04  15-Apr-04