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Strategies & Market Trends : Waiting for the big Kahuna

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To: Philipp who wrote (25673)8/30/1998 1:10:00 PM
From: Greg Jung  Read Replies (2) of 94695
 
Russia's communists want revision of IMF deals

MOSCOW, Aug 30 (Reuters) - Russian Communist Party leader
Gennady Zyuganov said on Sunday some of the pledges Russia
had made to secure a huge loan from the
International Monetary Fund should be revised.

Zyuganov told reporters his party would insist that a document on political accord
between the president, the government and parliament, broadly approved earlier on
Sunday, should also include a promise by the new government to revise several
points of the IMF-Russia loan deal.

''We think that this document should reflect our attitude to a number of articles
signed with the IMF by (Central Bank chairman Sergei) Dubinin and (former prime
minister Sergei) Kiriyenko,'' Zyuganov told reporters.

He said he was referring to ''obligations to destroy natural monopolies, shift the full
tax burden to individual citizens (from companies) and to raise housing rent by 15
percent every year.''

Earlier on Sunday, acting Prime Minister Viktor Chernomyrdin and leaders of the
Communist-led State Duma lower house of parliament approved a deal aimed at
building a political consensus to save Russia from economic collapse.
The deal is expected to secure Chernomyrdin's confirmation as prime minister by
the Duma and strip President Boris Yeltsin of some of his sweeping powers.
Zyuganov's comment appeared to indicate he would express those demands during
debate on Chernomyrdin's approval.

Do you suppose they will give back the loan before asking for different conditions?
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