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: Paul Berliner who wrote (934)	3/24/1999 1:25:00 PM
From: Rob Shilling	Read Replies (1) of 1301

Paul, the IMF's chief guy (Camadessus) is coming to Moscow on March 27th for "several days". This is good news. Also, Russia does not need IMF money as much as it has been reported. Russia's budget is essentially balanced now, and the recent rise in oil prices will be adding much needed hard currency to Russia. Also if you look at the NET DEBT of Russia, (Debt it owes, minus debt it is owed), it is a small $40 billion or so. Russia wants IMF money so that it can get "blessed" to start foreign debt negotiations to start netting out these debt payments and to start reducing the soviet debt burden. Russia will be thriving very soon.

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