Investment in Russia and Eastern Europe Message Board

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Strategies & Market Trends : Investment in Russia and Eastern Europe

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To: Real Man who wrote ()	5/11/1998 11:57:00 AM
From: Real Man	of 1301

It's G8 now??? Or G7+1? LONDON, May 9 (Reuters) - German Economics Minister Guenter Rexrodt on Saturday applauded Russia's reforms but said it needed to do more. Rexrodt told reporters it was encouraging that a class of dynamic, western-style managers was emerging out of the former communist empire and that the transparency of the legal system was being improved. But he added that Russia had been "encouraged" to carry on with its reforms by foreign and finance ministers from the Group of Eight leading industrial nations, meeting in London. Substantial reforms were still needed in Russia's administrative system, where arbitrary decision-making was rife, and the relationship between Russia's central and regional authorities remained unclear, he said. "In addition, there are criminal structures in the economy, but alongside the Mafia-type structures, entrepreneurs are emerging who match western standards and are dynamic." He was speaking at the end of a meeting of G8 ministers, a precursor to a full G8 summit in Birmingham, England, next week.

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