,,iii  #aacth ,,congress  #b;d ,session 
,s4 ,,res4 #ddh  ,,in ,,the ,,senate    
,,of ,,the ,,united ,,states  ,may #ae1 
#bjad ,mr4 ,rubio 7for himself and ,mr4 
,cruz7 submitted the following          
resolution2 which was referred to the   
,committee on ,foreign ,relations       
,,resolution  ,expressing the sense of  
the ,senate on the policy of the ,united
 ,states regarding stabilizing the      
currency of ,ukraine4  ,whereas the     
territorial integrity of ,ukraine has   
been compromised by the unlawful        
annexation of ,crimea by the ,russian   
,federation2 ,whereas the territorial   
integrity of ,ukraine continues to be   
under threat because of unlawful        
provocations by the ,russian            
,federation2 ,whereas ongoing economic  
hardships in ,ukraine are being         
exploited by unlawful separatist        
elements with allegiances to the        
,russian ,federation2 ,whereas          
strengthening of the economy of ,ukraine
 can help stabilize the unrest in the   

southern and eastern parts of ,ukraine  
and support the territorial integrity of
 ,ukraine2 ,whereas the ,russian        
,federation has declared the ,russian   
ruble to be legal tender in ,crimea     
following its unlawful annexation of    
,crimea1 to circulate in parallel with  
the hryvnia1 the national currency of   
,ukraine1 until ,january #a1 #bjaf2     
,whereas the ,russian ,federation will  
exploit currency competition between the
 ruble and the hryvnia during the period
 both currencies are in circulation in  
,crimea in an attempt to portray the    
,russian-controlled managed economy as  
superior to ,western-style democracy and
 free markets2 ,whereas a stable        
national currency can be important to   
facilitate economic growth2 ,whereas the
 hryvnia dropped in value by #ce percent
 relative to the ,united ,states dollar 
between ,january and ,may #bjad2        
,whereas currency boards have a long    
record of promoting superior performance
 in countries with emerging markets by  

spurring higher economic growth rates1  
lower inflation rates1 and more fiscal  
discipline than central banks that      
employ floating exchange rates2 ,whereas
 the establishment of a national        
currency board for ,ukraine can generate
 a more stable currency and enhance     
demand for the hryvnia2 ,whereas1 under 
a currency board1 the hryvnia could be  
convertible into the ,united ,states    
dollar or the euro1 both of which are   
dominant global reserve currencies2     
,whereas the ability to convert the     
hryvnia into the ,united ,states dollar 
or the euro would help make the hryvnia 
stable and its exchange more reliable2  
,whereas a stable national currency can 
boost investor confidence and make      
,ukraine less susceptible to            
destabilizing rhetoric from the ,russian
 ,federation2 ,whereas the              
,international ,monetary ,fund has a    
long track record of supporting the     
establishment of currency boards and    
financial mechanisms that approximate   

currency boards1 notably through the    
implementation of ,article ,,vii of     
,annex #d of the ,general ,framework    
,agreement for ,peace in ,bosnia and    
,herzegovina1 initialed at ,dayton1     
,november #ba1 #aiie 7commonly known as 
the ,dayton ,peace ,accords71 which     
mandated a currency board for ,bosnia   
and ,herzegovina2 ,whereas the          
,international ,monetary ,fund can      
provide the technical expertise         
necessary to ensure that a currency     
board run by monetary authorities in    
,ukraine is implemented properly2       
,whereas currency board systems have    
been designed for other countries in    
,europe with positive results1 including
 ,estonia1 ,lithuania1 and ,bosnia and  
,herzegovina2 ,whereas the ,united      
,states ,congress sent a strong message 
of solidarity with the people of        
,ukraine by passing the ,support for the
 ,sovereignty1 ,integrity1 ,democracy1  
and ,economic ,stability of ,ukraine    
,act of #bjad 7,public ,law #aac-ie2    

#abh ,stat4 #ajhh71 which included      
financial assistance for ,ukraine2 and  
,whereas strengthening of the national  
currency of ,ukraine and supporting the 
institution of a disciplined monetary   
regime would send a powerful signal of  
support for ,ukraine3 ,now1 therefore1  
be it  ,that it is the sense of the     
,senate that-- 7#a7 the ,united ,states 
and ,ukraine should examine the benefits
 of implementing a currency board system
 as a way to stabilize the national     
currency of ,ukraine and to improve the 
economy of ,ukraine2 and  7#b7 if       
,ukraine decides to pursue the          
implementation of a currency board      
system1 the ,united ,states ,secretary  
of the ,treasury should work with the   
,international ,monetary ,fund to help  
create a currency board for ,ukraine    
that can assist ,ukraine to improve its 
economy4