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: djane who wrote (467)	8/19/1998 4:54:00 PM
From: Rob Shilling	Read Replies (1) of 1301

make that $18 billion lost another 10% today. Rediculous level. So if the Russian stock market ever equaled the GNP, you would receive over 40X your money assuming no growth in GNP. I almost have to agree that the West and the IMF have it wrong. Russia has been using billions of dollars to prop up the ruble against speculators. The IMF wants taxes to be raised. So Russia, finally decides to think more about its people and defer some loan payments so as to pay back wages. Now the financial markets are crying fowl, saying Russia devalued and defaulted and investors will never come back. So western speculators get rich off of Russia, then the western media critizes Russia for giving up the game. In all the fray, oil price fundamentals have turned for the better. Taking the rosy scenario, back wages could be paid thanks to the 90 day moratarium on debt, the deficit gap could close due to the devaluation and continuing improvement of tax collection. Then as oil prices rise, Russia will be in much better shape than before. All this at the expense of a few bond investors and some food price inflation.

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