America's blueprint for the world economy
Article Abstract:
The Group of Seven industrialised countries (G7) meet on Jan 25, 1992 and the US, Russia and former Russian republics are taking requests to all member countries. The US request is that the world economy be reflated, although the forthcoming elections are influencing this request more than the US economy, and therefore other members are cautious of this plan. Former Russian republics will be requesting financial aid and Russia will be asking for a rouble stabilisation fund which it may not be granted until more market reforms are made.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1992
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G7 clears the decks for recovery
Article Abstract:
The Group of Seven meet in Munich in Jul 1992 to discuss the global recession. World trade talks aim to reach agreement beforehand. It is anticipated that the International Monetary Fund, under the influence of G7, will offer Boris Yeltsin, President of Russia, a $1 billion or 525 million pounds sterling loan, as a starter from the pledged $24 billion financial assistance, and rescheduling of $65 billion debts. Mr Yeltsin warns of the possible breakdown of political change unless he receives more of the $24 billion.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1992
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Republics test the IMF reserves
Article Abstract:
Russia and its former republics are requesting more funds from the International Monetary Fund (IMF) and the World Bank than they have in liquid assets. Although the Group of Seven has given some help they expect the IMF to give long term help. Russia alone wants up to 12 billion dollars, but this would stretch the IMF's 27 billion dollars liquid reserves. The World Bank is in a better position to loan large sums, but these are chiefly for development and infrastructure reforms and take a long time to execute.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
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