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Treasury's Lew On Senate's Action To Support Ukraine

Published on 13 March 2014

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by Jacob J. Lew, Treasury Secretary


Washington, D.C.

U.S. Department of the Treasury
Washington DC
March 12, 2014

Statement Of Secretary Jacob J. Lew On Bipartisan Action Taken By The Senate Foreign Relations Committee To Support Ukraine

Today, in a strong bipartisan vote, the U.S. Senate Foreign Relations Committee came together and took action to support Ukraine during this fragile period and hold accountable those who have violated Ukraine's sovereignty and territorial integrity.

This legislative package demonstrates the United States’ steadfast commitment to helping Ukraine restore economic stability and also marks an important step forward in passing the 2010 IMF quota reforms. These reforms will allow the IMF to provide the necessary resources to Ukraine and the United States to preserve its leadership within this indispensable institution.

At a time when the United States is at the forefront of international calls in urging the IMF to play a central and active first responder role in Ukraine, it is imperative that we secure passage of IMF legislation and maintain our leadership in this essential institution. It also underscores how important it is to pass these reforms to increase by 60 percent -- from $1 billion to $1.6 billion -- Ukraine’s access to flexible liquidity support. The administration will continue to work with Congress to not only get this done, but to also make sure that the United States meets its commitments to the international financial institutions that do vital work to advance our economic and national security interests.


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Posted 2014-03-13 14:55:00