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Gold/Mining/Energy : Gold Price Monitor

GDXJ 110.89

+1.8%

Dec 10 4:00 PM EST

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To: Hawkmoon who wrote (57717)	8/31/2000 7:43:35 AM
From: long-gone	of 116810

IMF Chief to Favor New Loan for Russia Washington Post July 14, 1999 Michel Camdessus, managing director of the International Monetary Fund, plans to recommend an additional $4.5 billion in loans to Russia to keep it from defaulting on earlier outstanding IMF loans, officials said today after the Russian government approved new economic policies. If the IMF board agrees, as is likely when the proposal is made in two weeks, Russia will be able to borrow $1.9 billion this year and the remainder the following year, Russian officials said. The new loans would keep Russia from failing to make scheduled payments on its old IMF loans. Camdessus said last month that he was encouraged by figures showing Russia's industrial production and tax revenue are up while inflation is losing steam. newsmax.com

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