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


To: Real Man who wrote (566)8/28/1998 3:30:00 PM
From: P.T.Burnem  Read Replies (1) | Respond to of 1301
 
Western bankers are mad at Russia for a default on their loans. This is bad for them, but lifts Russia's burden. Russia paid most of its revenues to finance the debt. Without debt the budget even showed a surplus in 1998.

I find this hard to believe given that their tax collection is a joke, and export industries have been "privatized".

PTB

P.S. Today's Washington Post has an in-depth analysis of Moscow shenanigans.