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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Greg Jung who wrote (25706)	8/30/1998 1:22:00 PM
From: set	Read Replies (1) \| Respond to of 94695

> He said he was referring to ''obligations to destroy > natural monopolies, shift the full tax burden to > individual citizens (from companies) and to raise > housing rent by 15 percent every year.'' do I understand correctly that these are IMF conditions for the loan? It may be obvious from the context, but I want to be sure before I reach the awful conclusion it suggests. Shahar

To: Greg Jung who wrote (25706)	8/30/1998 6:54:00 PM
From: Philipp	Respond to of 94695

Hi Greg: Do you suppose they will give back the loan before asking for different conditions? Russia is a financial black hole. Never expect any money back. The 25 - 30 % they offered last week was a pretty generous offer, though I don't think it stands any longer. In fact, it is quite clear that the German government/banks never expected to get any of the loan money back when they gave the loans (this is all still part of the price the West German government agreed to pay for bankrupt East Germany, negotiated with Gorbachev). A friend told me yesterday that last year Dresdner Bank wrote off 90 % of a loan for Poland the day after it was issued! Cheers, Phil