FROM THE OFFICE OF PUBLIC AFFAIRS

We welcome the IMF Board of Directors' approval onAugust 20 of the stand-by arrangement to provide $4 billion in IMF financing in support ofThailand's stabilization program. This is a significant step towards restoration of financialstability in Thailand, which is also important to the United States and the rest of the internationalcommunity. As indicated in the statement released today by the Bank of InternationalSettlements, the United States is prepared to participate in a short-term, multilateral bridgingfacility, if needed and under appropriate conditions, to provide liquidity in support of Thailand'sprogram.