Lew Testifies on Ukraine, IMF Funding (Statement)

Lew Testifies on Ukraine, IMF Funding (Statement) Play

May 8 (Bloomberg) -- U.S. Treasury Secretary Jack Lew testifies before the House Financial Services Committee in Washington about the crisis in Ukraine and the need for congressional approval of a 2010 pact by all Internal Monetary Fund member countries that would increase emerging-markets’ shares, or quotas, in the fund and boost its permanent lending capacity. In his prepared remarks, Lew reiterated that the U.S. is prepared to make Russia pay for its "provocative” actions and said an IMF aid plan is the only way to revive Ukraine’s economy. (This report is Lew's prepared statement. Source: Bloomberg)

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