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Office of the Press Secretary

For Immediate Release February 6, 1999

STATEMENT BY THE PRESIDENT

At this difficult time, my thoughts and prayers, as well as those of all Americans, are with his Majesty King Hussein, his family and the people of Jordan. The United States stands by Jordan and is determined to do all that it can to support and strengthen it.

Next week, I will ask Congress promptly to provide the $300 million in supplemental bilateral assistance to Jordan that was promised as part of the Wye agreement.

The United States is working with the international community to mobilize additional resources to help Jordan maintain its economic stability. We are consulting with key allies, including our G-7 partners and the Gulf States, on further steps to support Jordan.

The International Monetary Fund will play a leading role in marshaling international support for Jordan. Substantial resources can be mobilized quickly under a new IMF program with expedited procedures.

The World Bank also is preparing to provide additional support for Jordan's economic reform program.

In addition, the United States will support substantial rescheduling of Jordan's obligations to bilateral creditors through the Paris Club, on the basis of an IMF program.

These initiatives by the international community, combined with U.S. direct bilateral assistance, will provide substantial resources in support of Jordanian economic stability and growth.

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