Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: SATURDAY, April 3, 1993 TAG: 9304030113
SECTION: NATL/INTL PAGE: A-1 EDITION: METRO
SOURCE: From The Associated Press and The Washington Post
DATELINE: PORTLAND, ORE. LENGTH: Medium
SUMMIT THEME: HELP WEST AGREES TO DEBT LENIENCY
Focusing on aid, not arms, in his first superpower summit, President Clinton briefed Russian President Boris Yeltsin by phone Friday on the $1 billion-plus package of U.S. assistance that will be offered in their weekend talks.Both leaders were to arrive in Vancouver, British Columbia, this morning, Yeltsin after the long trip from Moscow, Clinton after a short flight from Portland, Ore., where he spent Friday presiding at a conference on the fate of ancient Northwest forests.
Western governments announced an agreement Friday to give Russia more time to pay its foreign debts, providing Yeltsin and Clinton a strong base for negotiating a broader package of Western aid at the summit.
Postponing repayment of Russia's massive debts to Western governments and banks will release Yeltsin from $15 billion in payment obligations this year, easing his financial burden as he seeks to rebuild the staggering Russian economy and maintain momentum for democratic political reform.
Secretary of State Warren Christopher, arriving Friday evening in Vancouver, declared "we want to see the new Russia survive." He told reporters at the airport that the U.S. aid programs "will be practical, tangible and they will be designed to have an immediate and powerful impact."
Treasury Secretary Lloyd Bentsen said he came to the summit with "a profound sense of hope" that free market and democratic reforms in Russia will succeed.
Clinton is expected to offer Yeltsin immediate assistance including food, medical supplies and other highly visible contributions that will demonstrate American support for Russia's democratic aspirations. He also will discuss the outlines of a larger aid package to be put together by the Group of Seven industrial nations.
The decision Friday to defer debt payments for at least a year will make other aid far more effective. Russia otherwise would be taking in assistance from Western donors while at the same time paying out as much or more to repay Western creditors.
Clinton and Yeltsin are expected to hold about seven hours of talks over two days.
Unlike earlier summits focusing on arms reduction, the overriding subject will be Russia's disintegrating economy and what the West can do to help stabilize it.