The U.S. also attempted to sway Russian elections. In 1996, with the presidency of Boris Yeltsin and the Russian economy flailing, President Clinton endorsed a $10.2-billion loan from the International Monetary Fund linked to privatization, trade liberalization and other measures that would move Russia toward a capitalist economy. Yeltsin used the loan to bolster his popular support, telling voters that only he had the reformist credentials to secure such loans, according to media reports at the time. He used the money, in part, for social spending before the election, including payment of back wages and pensions.