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To: Alex who wrote (14267)	7/8/1998 8:45:00 PM
From: goldsnow	Respond to of 116764

Russia Raises Only A Quarter Of What It Needs In 2 Treasury Bill Auctions Russia Fails to Cover Needs at Treasury Bills Sales (Update6) (Adds background, rewrites.) Moscow, July 8 (Bloomberg) -- Russia, in a sign of declining investor confidence in its creditworthiness, raised only one quarter of the $1 billion it needed to make debt payments this week in today's Treasury-bill sale. Investors said they shunned the bill auctions because of the risk Russia will soon be forced to devalue the ruble unless it can negotiate a loan of as much as $15 billion from the International Monetary Fund. The failed sale -- the eighth in a row where the government couldn't raise as much cash as it sought bloomberg.com