ECONOMIC WARNING???
Bob, are you trying to buy more HGRM? <g>
Here is a news article that talks about two important developments; The new prime minister and alcohol taxes.
Jim
Russia: IMF Loan Is a Priority
MOSCOW (AP) - Russia's new prime minister, Sergei Stepashin, said Wednesday that securing a promised International Monetary Fund loan was a priority for his government and pledged to push for IMF-mandated reforms.
The IMF has given tentative approval to a new, $4.5 billion loan to Russia but is holding off on final approval until Russia's parliament passes a package of stringent economic measures.
''We have obligations to the IMF, and we will meet them,'' Stepashin told members of the State Duma, the lower house of parliament, during his confirmation hearings.
However, Stepashin also said he had asked the acting economics and finance ministers to make sure the measures were aimed at ''the fat wallets,'' not at the poor, the Interfax news agency reported.
Two proposals already have been drafted to increase the excise tax on alcohol, he said. The IMF has been urging Russia to increase its tax base.
Martin Gilman, head of the IMF's Moscow office, said the lending agency was ready to work with the new government.
''The IMF will support measures pursued by the new government aimed at further strengthening of economic policy,'' he told Interfax.
Acting Finance Minister Mikhail Zadornov said the new government and Central Bank would conduct ''just as careful a financial and monetary policy as in recent months,'' Interfax reported.
He said a Duma committee would begin this week to consider measures demanded by the IMF. Some could be considered by the Duma as early as Friday, he added. The measures include an overhaul of the Russian banking system.
''The issue of passing the package of laws is a priority for the government, and we are counting on success,'' Zadornov said. |
