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To: Bobby Yellin who wrote (41380)	9/28/1999 6:04:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 116764

Swiss say not prejudging case for Russia sanctions 12:39 p.m. Sep 23, 1999 Eastern BERNE, Sept 23 (Reuters) - Switzerland said on Thursday it would ask the International Monetary Fund to discuss disciplinary steps against Russia for allegedly lying about the size of official reserves in 1996 but that Berne was not prejudging whether sanctions were justified. An auditors report done by accounting firm PricewaterhouseCoopers for the IMF concluded Moscow made false statements to the IMF about the extent of its reserves, the finance ministry said in a statement. A separate review of how Russia used IMF funds is now under way, the ministry said, but it noted that there was no evidence to date that Russia had misappropriated any IMF money. ``When the final results of the investigation into the events of 1996 are presented, Switzerland will demand a discussion in the IMF over disciplinary and compensation measures,' it said. ``Switzerland has not demanded sanctions against Russia in this context. These are only foreseen for serious violations of IMF rules, for example embezzling IMF funds,' it said. Switzerland also wants IMF funds for Russia to be used only to repay outstanding loans until the matter is cleared up. A finance ministry official had told Reuters on Wednesday that Berne wanted the IMF to discuss levelling sanctions against Russia for lying to the IMF, which he called intolerable even if no other wrongdoing comes to light. ((Zurich newsroom +41 1 631 7340 fax +41 1 202 5538, zurich.newsroom+reuters.com)) Copyright 1999 Reuters Limited. All rights reserved ps. You think that is The Reason CB's decided to give Swiss windfall in Gold sales or they conditioned it on no more Swiss sales day after? <VBG>