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To: paul ross who wrote (20784)	10/6/1998 6:35:00 PM
From: goldsnow	Respond to of 116835

IMF" help" is a political sharade, and attempt to demonstrate like any bureaucracy would/need to prove its importance....Now imagine IMF indeed spending Gold and giving/waisting proceeds (dollars) to the country like Russia....IMO such a move should not be discounted but would signal an upcoming return to the Gold standard....as it would clearly demonstrate what paper money really is...$250 to $1000 scenario... Russia PM Urges Calm Ahead Of Huge Protests 04:01 p.m Oct 06, 1998 Eastern By Andrei Khalip MOSCOW (Reuters) - Russian Prime Minister Yevgeny Primakov called for stability and discipline in his first address to the nation Tuesday, just hours before millions of Russians were due to take to the streets in union-led protests. ''I understand that many of those who are going to demonstrate tomorrow have grounds for dissatisfaction. But I want to urge everyone, don't rock the boat we're all in -- the sea today is too stormy,'' Primakov said. ''For Russia, getting out of this crisis means calm and accord, stability and discipline, obeying the constitution and the law, putting the common interest above one's own,'' he said. Unions say Wednesday's protests will be the largest in recent years, bringing millions out in protest against plunging living standards and repayment of delayed wages and pensions. Many will also demand the resignation of President Boris Yeltsin, whom they hold responsible for Russia's deep crisis. However, Russians have consistently shown themselves patient and stoic in the face of wrenching economic and social upheaval and previous days of action have attracted far fewer than the unions' estimated millions. In his address, Primakov pledged to repay pension and wages debts ''down to the last kopeck'' soon and start paying current salaries in full and on time. But he added it would take a few months before the government would be able to repay old debts. He tried to assure Russians there would be no food shortages despite a sharp fall in imports due to the crisis and that the government would do everything possible to ensure the flow of staple products to the shops. ''I can assure you that the population will be fully supplied with fruit and vegetables, with potatoes,'' Primakov said, adding that the government was cutting rail tariffs by 50 percent for the transport of potatoes and fruit, mostly home-grown. But nearly two months into Russia's worst economic crisis since communism, Primakov said a full economic program was still under discussion. ''A program is taking shape, there will be a program,'' he said. But he added that its financial dimension hinged on Russia's negotiations with creditors and investors worldwide. A high-level Russian delegation is negotiating with the International Monetary Fund in Washington to try to secure billions of dollars in much-needed credits. Primakov made clear the government's plan would focus on revitalizing the banks, liquidating debts and non-payments between enterprises and setting up an efficient tax system that would help rather than impede domestic producers. New tax chief Georgy Boos said earlier the state had collected just 9.3 billion roubles ($425 million) in tax last month, two billion down on August and well short of its needs. Primakov said some banks would have to go bankrupt but only after a thorough analysis, while ''those who can work'' would get state support. Shrugging off criticism that his cabinet has adopted a Soviet-style approach to the economy, Primakov ruled out nationalization of banks and said government measures to help industry would not be inflationary. ''Nationalization is not our way...There will be no stuffing of the economy with cash which is not backed (by reserves).'' But Primakov's pledges of growth at some unspecified stage are unlikely to calm millions of Russians who wait months, even years, for their money. Unions say nearly $5 billion in back wages are owed. Western creditors fear that if Primakov pays off the debts, it will simply drive up prices and wipe even more value off the rouble than the two thirds it has lost since August. As millions of Russians prepared for strikes and marches Yeltsin seemed more occupied Tuesday with efforts to prevent Western air strikes against Yugoslavia. Yeltsin, quoted by Itar-Tass news agency, told Primakov, architect of a post-Cold War pact with NATO, he would do all he could to ensure a peaceful settlement of the dispute between the Serbian leadership and the ethnic Albanian majority in Kosovo. He had spoken earlier on the matter to French President Jacques Chirac, the Kremlin said, continuing a flurry of telephone diplomacy aimed at averting NATO air strikes. Moscow's role in world affairs, already much diminished by the demise of the Soviet superpower, has been further hampered by the collapse of government finances in August. Copyright 1998 Reuters Limited.