The statement ignores a Congressional mandate to pressure World Bank to strengthen labor and environmental standards. These standards would require funded institutions to use methods to “fairly represent the value of internationally recognized workers’ rights.”
And it rejected a provision for Treasury Department to file a report on how to eliminate overlapping activities of the World Bank and IMF.
President Obama, who in the past criticized President Bush for his use of signing statements, said that he rejected these two provisions of the war spending bill because they interfere with foreign policy.
This is his sixth signing statement. By definition, signing statements change the law being signed.