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 (249)	6/29/1998 2:42:00 PM
From: Real Man	Read Replies (1) of 1301

Ah, now I see, the news not so good. Mikhail Zadornov, who is the minister of finance, mentioned the inevitable devaluation of the ruble if the tax collection did not improve. This was the first time devaluation was mentioned by a top official, so the bond and stock markets went down. As a result IMF said they were considering seriously the new loan. As serious as this seems to be, some say the remark was made to prompt the new loan from IMF, calling it a bluff. We'll see how it goes. -Vi

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