[Public Papers of the Presidents of the United States: William J. Clinton (1998, Book II)]
[July 13, 1998]
[Page 1223]
[From the U.S. Government Publishing Office www.gpo.gov]



Statement on the Proposed International Monetary Fund Financing Program 
for Russia
July 13, 1998

    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.