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To: Alex who wrote (14373)	7/10/1998 6:26:00 PM
From: Al Gordon	Respond to of 116756

International Futility Fund why it's not working Princeton Economics Article on Russia kitcomm.com hope the url works

To: Alex who wrote (14373)	7/12/1998 9:18:00 PM
From: goldsnow	Respond to of 116756

This time Russia will set a world record for the fastest burning of paper/IMF money..(would handily bit their own record it holds jointly with Indonesia...:) :( Russia, IMF meeting ends with no concrete deal 03:40 p.m Jul 12, 1998 Eastern MOSCOW (Reuters) - A meeting between Russian Prime Minister Sergei Kiriyenko and a delegation of the International Monetary Fund ended Sunday with no final deal on a multi-billion dollar loan sought by Moscow. But Itar-Tass news agency quoted the government press service as saying that ''the sides have achieved agreement on all major questions of principal importance.'' The optimistic government statement appeared aimed at calming the markets, which have been anxiously awaiting the outcome of the talks which some Russian officials expected to reach final agreement over the weekend. Earlier on Sunday Andrei Trapeznikov, an aide to chief Russian loan negotiator Anatoly Chubais, said the talks between Kiriyenko and John Odling-Smee, head of the IMF department responsible for the former Soviet Union, were likely to be decisive. ''Today is most important -- it is a final stage, talks between Odling-Smee and Kiriyenko,'' Trapeznikov said. The Sunday talks lasted over five hours, which served as a clear indication of their difficulty. A senior government official said talks between Chubais and the IMF delegation were likely to continue on Monday. The Russian government, beset by poor tax revenues, low world oil prices, financial market turmoil and the need to pay huge amounts of short-term domestic debt, says it urgently needs $10 billion to $15 billion in loans. The New York Times reported on Sunday that the IMF had told Moscow it was prepared to lend it $11 billion, nearly double the $5.6 billion loan initially discussed. Copyright 1998 Reuters Limited.