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RUSSIA: SMALL RUBLE DEVALUATION FORECAST...(Brief Article)
IPR Strategic Business Information Database, December, 1999
Finance Minister Mikhail Kasyanov said on 11 December that the IMF's delay in disbursing the second installment of its loan to Russia may cause the dollar's exchange rate vis-a-vis the ruble to climb by 40 to 50 kopeks during the first quarter of next year. On 9 December, Sergei Aleksashenko, former first deputy chairman of the Central Bank, wrote in "Vremya MN" that while the Finance Ministry may be able to service foreign debt without IMF funding, the government cannot postpone resolving its economic problems until fall 2000.
Aleksashenko predicts that the upcoming elections will mean a lower level of tax collection and a corresponding reduction in budget revenue. "In 1996, the situation was kept in check thanks to credits from the IMF, Germany, and France" and...
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