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Strategies & Market Trends : Investment in Russia and Eastern Europe -- Ignore unavailable to you. Want to Upgrade?

To: Rob Shilling who wrote (432)8/13/1998 6:31:00 PM
From: Rob Shilling  Read Replies (1) | Respond to of 1301
 
Except from Russia Today:

The prime minister vowed to pursue tough fiscal
policies aimed at restoring order to chaotic state
finances which have triggered an investor flight amid fears of a ruble
devaluation and debt default.
Kiriyenko said the situation had been far more serious in July, when the ruble was last hit by devaluation rumors, adding that central bank
reserves were higher now than at the time of the last crisis.
State spending was this month matching receipts, Interfax cited him as
saying. "For the first 10 days of August we are ahead (of target) on tax collection," said Kiriyenko, Itar-Tass news agency reported.

Note what looks like to be good news on tax revenues.



To: Rob Shilling who wrote (432)8/14/1998 4:44:00 AM
From: Z Analyzer  Respond to of 1301
 
Rob, Well said. eom



To: Rob Shilling who wrote (432)8/14/1998 10:44:00 AM
From: baystock  Read Replies (1) | Respond to of 1301
 
I agree with you that the Russian Market is undervalued. But that is only relevant for the longer term. It was also undervalued in 1995. The only difference is that foreign investors came in and helped drive it up, and now they are leaving. If the U.S. market tanks, it will only make things worse for the Russian stock market.


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