Statement on the Proposed International Monetary Fund Financing Program 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.