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Strategies & Market Trends : Investment in Russia and Eastern Europe
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To: Real Man who wrote (671)9/16/1998 12:48:00 AM
From: peter michaelson  Read Replies (1) of 1301
 
Vi:

I'm no expert but it seems to me, ill-informed though I am, that nationalization of a single key industry would solve Russia's financial problems.

That industry would be oil and gas.

It would give the government a stream of hard currency sufficient to re-pay the foreign debt over time. I read that foreign debt is $200 billion.

It is an industry that has been nationalized many times in many countries and is viewed as relatively acceptable, being a 'strategic industry'.

It can be done by purchasing at current very low prices the existing companies including Lukoil, with purchase price to be paid in bonds.

In one fell swoop it is a solution to the currency problems and it's politically acceptable nationally and internationally. It can be viewed by the Gorbachev contingent as a return to a path of gradual privatizing and capitalism, with some socialism remaining to protect the country.

JMHO, peter
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