Spring's grim economic tidings for Yeltsin
Article Abstract:
In Jan and Feb 1992 the International Monetary Fund (IMF) was happy with the progess of reform in Russia but by the end of March Vice-President Alexander Rutskoi felt the economy was out of control, with 80% of the population living in poverty. Older economists attacked Mr Gaidar's economic team. Boris Yeltsin postponed deregulation of oil prices because of the unpopularity of price increases. The Ukraine and Siberia complained about the government. The Speaker, Mr Khasbulatov, wrote in Ekonomika i Zhizn (Economics and life) that Mr Yeltsin had too much power.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1992
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IMF deal means trouble in store for Yeltsin
Article Abstract:
Boris Yeltsin, President of Russia, came to an agreement with the International Monetary Fund (IMF) which depends on the government reducing by half its promise of helping heavily indebted firms with investments of 500 billion roubles. Other conditions are to reduce budgetary expenditures up to 10% of gross domestic product and reduce annual inflation from 1,000% to 180% by the end of 1992. Mr Gaidar's economic policies were said by the IMF to be essential to Russia's success.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1992
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Yeltsin team gets jittery as hunger begins to bite
Article Abstract:
Russian citizens are very tolerant of their living standards and support Mr. Yeltin's efforts. Government officials know the people are patient and used to hardship. Factories prefer to keep workers on at reduced wages rather than lay them off. Young people who make money on the stock exchange encourage their parents to do the same. When the last state subsidies are removed, prices rise and unemployment increases, rioting may occur.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1992
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