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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 (617)	9/4/1998 11:37:00 AM
From: P.T.Burnem	Read Replies (1) \| Respond to of 1301

''The government has means to boost Russia's currency reserves without seeking aid from Western financial institutions,'' the agency quoted Zadornov as saying. He did not elaborate. No need to. The Russian government will do what it does best: rob its subjects of their meager possessions. Foreign currency accounts in Russian "banks" will be frozen. All withdrawals will have to be made in rubles at confiscatory foreign exchange rates. Export industries's hard currency revenues will too be targeted via punitive excise taxes and a mandatory ruble conversion. PTB "The choice is - either the abyss of hyperinflation or the mobilization of control over the economy,'' Chernomyrdin said in a speech to the Federation Council. "From Jan. of 1999 the country moves to economic dictatorship.''