281. Russia—Debt Rollover
- Author:
- Oxford Analytica
- Publication Date:
- 08-1999
- Content Type:
- Policy Brief
- Institution:
- Oxford Analytica
- Abstract:
- On July 28, the IMF's Board of Directors announced their approval of a 4.5 billion dollar loan to Russia. Rather than representing a breakthrough deal, the agreement is merely the latest chapter in the cycle of non–compliance and renegotiation that has characterised the Fund's relationship with Moscow. With presidential and parliamentary polls scheduled during the next twelve months, electoral pressures will almost certainly prevent the latest macroeconomic programme being implemented. Moreover, unless the root cause of Russia's economic problems—its dire GDP growth rate—is rectified, a further round of comprehensive renegotiations will be required.
- Topic:
- Debt, Economics, Government, International Trade and Finance, Political Economy, and Politics
- Political Geography:
- Russia and Moscow