FROM THE OFFICE OF PUBLIC AFFAIRS

The Russian authorities announced a series of extraordinary measures today which they had designed to stabilize the Russian financial situation, in response to the failure to restore market confidence.

We believe it is critically important that the Russian authorities move quickly to take actions to restore confidence, including the adoption of a careful and cooperative approach to dealing with its creditors and the full implementation of the measures outlined in the Russian stabilization program agreed with the IMF.

Going forward, we urge the IMF to work with the Russian authorities to find appropriate ways to support Russian policies that enhance the prospects for economic recovery. The United States and the international community have a great stake in successful Russian economic reform.