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BUSINESS
November 21, 1998 | From Times Wire Services
The gap between revenue and spending in Russia's 1999 budget will be too monstrous to even be called a "deficit," and the government has no idea where to find money to plug the hole, a senior finance ministry official said Friday. Russia, facing its worst economic crisis since the Soviet collapse, is seeking relief from creditors as it faces the inability to repay all its foreign debts next year, another official said.
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NEWS
January 10, 2001 | JOHN DANISZEWSKI, TIMES STAFF WRITER
Playing hardball with Western governments to win further debt relief, Russia confirmed Tuesday that it does not intend to make all of its scheduled repayments this quarter to the Paris Club of creditor nations. Prime Minister Mikhail M. Kasyanov told reporters that his government failed to budget to meet its full repayment obligations and that he has asked Finance Minister Alexei L. Kudrin to quickly begin negotiations with the Paris Club members.
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NEWS
January 10, 2001 | JOHN DANISZEWSKI, TIMES STAFF WRITER
Playing hardball with Western governments to win further debt relief, Russia confirmed Tuesday that it does not intend to make all of its scheduled repayments this quarter to the Paris Club of creditor nations. Prime Minister Mikhail M. Kasyanov told reporters that his government failed to budget to meet its full repayment obligations and that he has asked Finance Minister Alexei L. Kudrin to quickly begin negotiations with the Paris Club members.
NEWS
February 6, 1999 | ROBYN DIXON, TIMES STAFF WRITER
Russia's lower house of parliament passed a federal budget Friday that calls for minuscule spending, by U.S. standards, but nonetheless left international lenders cold. The budget provides stark testimony on how far the former superpower has fallen in its difficult transition to a market economy. This year's $1.7-trillion U.S. budget dwarfs Russia's planned spending--$25 billion. That means massive Russia intends to spend in a year what the United States will spend in about five days.
NEWS
February 6, 1999 | ROBYN DIXON, TIMES STAFF WRITER
Russia's lower house of parliament passed a federal budget Friday that calls for minuscule spending, by U.S. standards, but nonetheless left international lenders cold. The budget provides stark testimony on how far the former superpower has fallen in its difficult transition to a market economy. This year's $1.7-trillion U.S. budget dwarfs Russia's planned spending--$25 billion. That means massive Russia intends to spend in a year what the United States will spend in about five days.
NEWS
January 30, 1999 | From Times Wire Reports
The lower house of Russia's parliament approved the draft 1999 budget in its third reading, but a top official said Russia will have to wait months for desperately needed foreign aid. First Deputy Prime Minister Yuri Maslyukov said the International Monetary Fund was prepared to give Russia loans only after the Cabinet has implemented the budget for three months to prove its feasibility.
NEWS
February 21, 1998 | From Reuters
Russia's opposition-dominated lower house of parliament failed to muster enough votes Friday to pass the 1998 draft budget on its fourth and final reading. Only 187 deputies in the Duma voted for the draft, well short of the required 226 majority in the 450-member chamber. Eighty deputies rejected it, and one abstained. Earlier Friday, deputies rejected all major amendments to the spending plan that the government said were needed to make the budget more realistic.
NEWS
November 24, 1998 | From Reuters
Defense Secretary William S. Cohen said Monday that deeper cuts in U.S. and Russian nuclear arms would save scarce defense funds in both countries, but he refused to say whether the Pentagon had pressed Congress to make unilateral cuts. He was asked at a news conference about a New York Times article saying the Pentagon had quietly recommended in a report in April that Congress consider unilateral cuts because of weakening security threats coupled with budget concerns.
NEWS
May 16, 1998 | RICHARD C. PADDOCK, TIMES STAFF WRITER
Angry coal miners blocked trains on the Trans-Siberian Railway and barricaded the offices of two high-ranking officials Friday, prompting lawmakers to vote for an emergency bill that would cut their own office budgets and send the money to Russia's troubled mining regions. The sudden show of generosity by the Duma, Russia's lower house of parliament, followed days of protests by miners across the country over wages that have not been paid for up to a year--an estimated $600 million total.
BUSINESS
February 20, 1998 | CAROL J. WILLIAMS, TIMES STAFF WRITER
Russia has weathered the world's financial crises as well as could be expected and will be allowed to resume borrowing from a $9-billion loan program, the International Monetary Fund's chief decided Thursday. But Managing Director Michel Camdessus warned that much remains unknown about the risks facing this and other emerging markets from the economic turmoil that has rocked Asia for the last few months. "I've come to tell Russia, 'You are doing the right thing, but . . .
NEWS
January 30, 1999 | From Times Wire Reports
The lower house of Russia's parliament approved the draft 1999 budget in its third reading, but a top official said Russia will have to wait months for desperately needed foreign aid. First Deputy Prime Minister Yuri Maslyukov said the International Monetary Fund was prepared to give Russia loans only after the Cabinet has implemented the budget for three months to prove its feasibility.
NEWS
December 25, 1998 | From Associated Press
After an emotional plea by Prime Minister Yevgeny M. Primakov, Russia's parliament voted initial approval Thursday of an austerity budget intended to pull the nation out of its grim economic crisis. Lawmakers, who in past years have bridled at such tight budgets, said the economic situation--the worst since the Soviet collapse--is too dire for approval to be delayed.
NEWS
November 24, 1998 | From Reuters
Defense Secretary William S. Cohen said Monday that deeper cuts in U.S. and Russian nuclear arms would save scarce defense funds in both countries, but he refused to say whether the Pentagon had pressed Congress to make unilateral cuts. He was asked at a news conference about a New York Times article saying the Pentagon had quietly recommended in a report in April that Congress consider unilateral cuts because of weakening security threats coupled with budget concerns.
BUSINESS
November 21, 1998 | From Times Wire Services
The gap between revenue and spending in Russia's 1999 budget will be too monstrous to even be called a "deficit," and the government has no idea where to find money to plug the hole, a senior finance ministry official said Friday. Russia, facing its worst economic crisis since the Soviet collapse, is seeking relief from creditors as it faces the inability to repay all its foreign debts next year, another official said.
NEWS
May 16, 1998 | RICHARD C. PADDOCK, TIMES STAFF WRITER
Angry coal miners blocked trains on the Trans-Siberian Railway and barricaded the offices of two high-ranking officials Friday, prompting lawmakers to vote for an emergency bill that would cut their own office budgets and send the money to Russia's troubled mining regions. The sudden show of generosity by the Duma, Russia's lower house of parliament, followed days of protests by miners across the country over wages that have not been paid for up to a year--an estimated $600 million total.
NEWS
February 21, 1998 | From Reuters
Russia's opposition-dominated lower house of parliament failed to muster enough votes Friday to pass the 1998 draft budget on its fourth and final reading. Only 187 deputies in the Duma voted for the draft, well short of the required 226 majority in the 450-member chamber. Eighty deputies rejected it, and one abstained. Earlier Friday, deputies rejected all major amendments to the spending plan that the government said were needed to make the budget more realistic.
NEWS
December 16, 1996 | VANORA BENNETT, TIMES STAFF WRITER
After weeks of resistance, Russia's Communist-dominated parliament finally passed the 1997 draft budget at its initial reading Sunday, having first forced the cash-strapped government to rewrite it to include $6 billion in extra spending. Prime Minister Viktor S. Chernomyrdin won the battle over the budget when, after a private talk with Communist leader Gennady A. Zyuganov, the latter told his followers to vote in favor of the draft--at least for the moment.
NEWS
June 14, 1994 | RICHARD BOUDREAUX, TIMES STAFF WRITER
Rebuffed by the president and Parliament in an appeal for a bigger budget, Defense Minister Pavel S. Grachev said Monday that he will cut Russia's armed forces from 2.2 million to 1.9 million personnel by Oct. 1. The planned retrenchment would mean an army with 200,000 fewer members than the force that Grachev defined six months ago as the minimum Russia needed to guarantee its security. Grachev reported the planned cuts in brief remarks to the Russian news agency Interfax.
BUSINESS
February 20, 1998 | CAROL J. WILLIAMS, TIMES STAFF WRITER
Russia has weathered the world's financial crises as well as could be expected and will be allowed to resume borrowing from a $9-billion loan program, the International Monetary Fund's chief decided Thursday. But Managing Director Michel Camdessus warned that much remains unknown about the risks facing this and other emerging markets from the economic turmoil that has rocked Asia for the last few months. "I've come to tell Russia, 'You are doing the right thing, but . . .
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