The Clinton Administration expressed its confidence in Russia’s commitment to reform yesterday and suggested that Moscow was likely to reach agreement with the IMF on a three-year $9 billion loan. Following a series of meetings with Russian prime minister Viktor Chernomyrdin and other top Russian officials in Washington, both U.S. president Bill Clinton and vice president Al Gore threw their support behind the IMF loan. Senior U.S. officials were reported to have said that denying the loan to Russia would be a devastating blow to Yeltsin and Chernomyrdin. They speculated that the IMF would approve the loan, but would insist on monthly or quarterly disbursements dependent upon an ongoing review of the Russian economy. Clinton described 1995 as a "good year" for the Russian economy, with inflation down, production stable, and the ruble stronger. Earlier, a White House spokesman had said that Clinton would make clear privately to Chernomyrdin that Russia must "stay the course" on reform because it would "bring greater security and prosperity for the Russian people." (1)
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