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Strategies & Market Trends : Investment in Russia and Eastern Europe
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To: John Liu who wrote (660)9/10/1998 3:05:00 PM
From: Rob Shilling   of 1301
 
John, the ruble shortage has not been explained exactly,

But, mathematically the rate should equal the number of rubles divided by the number of dollars. Since this rate should be closer to 10 or less (according to Soros), the people that paniced and sold at 20 to the dollar, may have contributed to the shortage. Also apparently the banks have been paying off ruble debts after weeks of non-payments. There was also a rumor that Gazprom was buying up rubles to pay its monthly tax bill.
The new PM should easily be voted in. The uncertainty has now dropped and that should help the economic and stock market situations. The new PM is liked by the west, he will follow reforms to a point, and he is not aligned with any one political faction.
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