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: Z Analyzer who wrote (403)	8/7/1998 11:23:00 AM
From: Real Man	Read Replies (1) of 1301

It seems right now the taxes collected + IMF loan are not enough to pay short-term debt, set aside the non-payment problems. The fear is, if devaluation is uncontrolled panicky investors will drive the ruble a lot lower than its fundamentals, which will hurt the country a lot more. So the central bank does its best to defend the ruble for now, and deal with the overvaluation later. As a result, financial publications differ a lot. If the central bank and the government succeeds, then the GKO at current levels will yield a lot in dollar terms. If not, investors will get that panic mood again and sell everything. Russia is large enough to create problems in Europe. Technically as long as we are moving down (below 200 DMA) we will continue down. However, when a country of 150 mln people which launched the first satellite is valued as much as AOL, I'm a buyer. -Vi

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