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Strategies & Market Trends : Investment in Russia and Eastern Europe
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To: Tony van Werkhooven who wrote (546)8/27/1998 10:48:00 AM
From: djane   of 1301
 
No financial help for Russia without reforms-Kohl

Thursday August 27, 5:45 am Eastern Time

BERLIN, Aug 27 (Reuters) - German Chancellor Helmut
Kohl said on Thursday that Russia could not expect any
financial help, either from Germany or the international
community, if it did not pass crucial reforms.

Kohl, who said he was concerned about the crisis in Russia, also told reporters he planned to
speak to U.S. President Bill Clinton, British Prime Minister Tony Blair and French President
Jacques Chirac about the situation.

Kohl said: ''Without the reforms it will not be possible to mobilise money either from
international financial organisations or from Germany.''

He said he wanted to talk to fellow Western government leaders to sound out what could be
done to help push through Russia's reforms. ''If they don't follow through (on reforms) the
situation will look bad,'' Kohl said.

The chancellor was speaking after the Russian central bank suspended trading on Moscow's
currency exchange, fearing that the rouble could extend Wednesday's dramatic 40 percent
plunge against the German mark.

Panic spread across the country as people tried to exchange their rapidly depreciating roubles
for scarce dollars. Acting Prime Minister Viktor Chernomyrdin was trying to put together a
government, while President Boris Yeltsin, whose authority is in question, was holed up at a
residence outside Moscow.

Copyright c 1998 Reuters Limited. All rights reserved.
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