I think it's across the board. First of all, we need to, as you know, there is a defense review that follows from the bottom-up review we're now engaged in, which takes our defense plans forward into the next century. So the first issue is adequately funding the defense needs of the next decade. Second, there's the 150 account generally, an account that has been shrinking rather dramatically over the last several years to the point where I think many people believe that there simply are not adequate resources—less than one percent of the budget being spent on all the range of diplomatic activities, whether it is fighting terrorism or the economic activities of our embassies or the diplomatic activities. We spent $1.7 billion, for example, assisting the Guatemalan government in the ‘80s in the war in Guatemala; we only have $27 million to help the Guatemalan government build a peace.

In response to recent developments, Thailand's exchange rate system has been changed, effective July 2, 1997, to a managed float, with the value of the baht being determined by market forces in line with economic fundamentals. To support the new exchange rate policy, the Bank of Thailand has raised the Bank Rate from 10.5 percent to 12.5 percent. The Thai authorities are also considering supplementary measures to alleviate potential negative effects on debt servicing and prices that may result from adjustments in the value of the baht.

The Chairman-in-Office of the OSCE, Danish Foreign Minister Niels Helveg Petersen, issued the following statement today:

The municipal elections this year will be of key importance for the future developments of Bosnia and Herzegovina. The purpose of the elections is to achieve new structures of authority in municipalities all around the country, and it is only when this has been achieved that the electoral process can be regarded as concluded.

The French people clearly grasped the issues in an electoral debate opened without warning: you were the ones conducting it. Fully understanding what was involved, they were intent on settling this debate: you are the interpreters of their decision. On this occasion, our democracy, often racked by doubt, was able to regain its vitality: you will be its guarantors.

Today I am announcing my decision to impose a ban on new U.S. investment in Burma.

In reference to the Ministerial Committee on Jerusalem Affairs' decision:

The decision to approve construction of the Har Homa neighborhood, as well as other projects for the Arab population, was taken within the context of Jerusalem's development needs and represents no contravention of international law or any Israeli-Palestinian agreement.

I am pleased to submit to you today my report “Renewing the United Nations: a Program for Reform”.

The reforms I am proposing are bold reforms. They are the most extensive and far-reaching reforms in the 52-year history of our Organization.

President Clinton, ladies and gentlemen from the media from the United States and from Mexico, once again I would like to express the satisfaction of my government and the people of Mexico for the visit of President Clinton. We are truly very pleased that President Clinton is beginning his tour here in Latin America starting in Mexico. We are also especially pleased by the results of the work of the Mexico-U.S. Binational Commission and by the agreement that will be materialized today.

My fundamental purpose [here today] is to reaffirm United States policy towards Iraq. That policy is part of a broad commitment to protect the security and territory of our friends and allies in the Gulf. We have a vital national interest in the security of the region's oil supplies, and we have forged strong friendships with countries in the area who agree with us that nations should respect international law, refrain from aggression and oppose those who commit or sponsor terror.

I am pleased to be with you today, and to be able to announce some of the managerial initiatives which I am going to take today. I think I made it clear from the beginning that I was approaching it on a two-track basis: track 1 covering actions and initiatives that I can take under my own authority; and track 2 dealing with longer-term and strategic issues which only the Member States can decide.