This is historical material, "frozen in time." The web site is no longer updated and links to external web sites and some internal pages will not work.

THE WHITE HOUSE

Office of the Press Secretary

For Immediate Release July 13, 1998

STATEMENT BY THE PRESIDENT

Additional IMF Financing for Russia

I welcome the announcement this morning by Michel Camdessus, Managing Director of the International Monetary Fund, that he will recommend a new financing program for Russia to the Fund's Executive Board. This new program of Russian policy commitments and international financial support can provide a sound basis for increased stability and confidence. Strong implementation by the Russian Government of these important reform measures is essential. I continue to believe that a partnership with a stable, democratic and prosperous Russia is a vital U.S. national interest.

# # #