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: Rob Shilling who wrote (635)	9/6/1998 3:08:00 PM
From: Rob Shilling	Read Replies (1) of 1301

Newflash !!!! Russia Today has an article that says one of the communist leaders in the Duma expects Victor C. to be approved Monday if it is a secret ballot, if not, he may still win or he will be voted in the following Monday. Also, the economic plan has been unveiled further. It is called the Cherymeridan-Fadorov plan (pardon spelling). The most significant thing I see in it is that Russia is going to let foreign currencies circulate freely in the economy. This is huge, so-called "dollarizing" the economy is a solution that could pull out all of the hidden dollars under mattresses. There will be a currency board in the future. Also, tax rates will drop. There will be a flat rate of 15-20%. All tax arrears by corporations will be forgiven as long as companies continue to be current going forward, if after six months they fall behind, they will be taken over by the state. If Victor C. gets elected Monday and Russia starts this plan, it will be a HUGE boost to confidence and the ruble will strengthen (IMHO).

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