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THE WHITE HOUSE

                     Office of the Press Secretary
                        (Aboard Air Force One)
________________________________________________________________________
For Immediate Release                                      July 20, 1998

STATEMENT BY THE PRESS SECRETARY

IMF Additional Financing for Russia

The United States commends the important steps Russia has taken to strengthen its public finances, preserve financial stability and further help lay the groundwork for economic growth through structural reform. We welcome the decision by the IMF Executive Board to expand its funding for Russia's reform program. We look forward to full implementation of these reforms and to additional action to put Russia's finances on a sustainable path.

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