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NEWS
August 15, 1998 | VANORA BENNETT and ART PINE, TIMES STAFF WRITERS
Russian President Boris N. Yeltsin came under heavy new pressure Friday to take decisive steps to avert a financial debacle as President Clinton personally phoned to urge reforms demanded by nervous global financial markets. In a move that underscored the seriousness of the Russian financial crisis, Clinton spent 40 minutes on the telephone with the Russian president in what White House Press Secretary Mike McCurry said was a call "about doing the things necessary to 'right' [the] economy."
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WORLD
February 23, 2014 | By Carol J. Williams
MOSCOW - Russia will withhold further loans and aid to Ukraine in the wake of the tumultuous leadership changes underway in the former Soviet republic until it becomes clear who will be in charge in the new interim government, Finance Minister Anton Siluanov said Sunday. Siluanov also said Moscow believes Ukraine should turn to the International Monetary Fund for help averting bankruptcy and reforming its corrupt and massively indebted budget, a signal that the Kremlin may be unwilling to further extend loans and subsidies to a nation now under the sway of pro-Western opposition figures.
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NEWS
March 30, 1999 | ROBYN DIXON, TIMES STAFF WRITER
After months of tough negotiations, Russia won agreement in principle Monday on a new loan from the International Monetary Fund that could save the country from a disastrous default on its existing debt to the financial institution and win it some economic breathing space. Prime Minister Yevgeny M. Primakov promised that, in exchange, his government would produce a 2% primary budget surplus, though questions remain about his ability to deliver the program demanded by the IMF.
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
March 28, 1999 | Associated Press
The chief of the International Monetary Fund arrived Saturday for talks on new loans to Russia and said tensions over NATO bombings in Yugoslavia will not affect the negotiations. Michel Camdessus told reporters Saturday that the IMF hopes to quickly come to an agreement on new loans for Russia. "We've got a degree of optimism," Camdessus said. "Our goal is to come to a credible agreement, which could assist your country in very difficult conditions."
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
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.
BUSINESS
August 20, 1998 | VANORA BENNETT, TIMES STAFF WRITER
The Russian government, under fire at home for devaluing its troubled currency, delayed announcing terms for repaying its ruble debt after the world financial community raised concerns that the plan would discriminate against foreign creditors. Meanwhile, the slide in Russia's currency slowed somewhat since President Boris N.
NEWS
December 4, 1998 | MAURA REYNOLDS, TIMES STAFF WRITER
Nearly four months after Russia's economy went into a tailspin, the government gave preliminary approval Thursday to an action plan designed to pull it out of its dive. The plan includes a list of 33 draft laws and 36 other measures aimed at lowering taxes and increasing investment, but it does not address the badly out-of-balance federal budget--the key to any rescue plan. "They are trying to impress the public with the number of the laws and decrees in the program," economist Otto R.
NEWS
July 18, 1998 | RICHARD C. PADDOCK, TIMES STAFF WRITER
After the parliament failed to approve much of its financial austerity program, Prime Minister Sergei V. Kiriyenko said Friday that the Russian government will move quickly to adopt the rejected measures by decree. Although the government has pushed all week to force the Duma, parliament's lower house, to adopt a series of painful tax hikes and budget cuts, Kiriyenko revealed that decrees enacting the same proposals have already been drafted.
NEWS
December 22, 2000 | JOHN DANISZEWSKI, TIMES STAFF WRITER
Russia's lower house of parliament gave preliminary backing Thursday to a potentially important hard-currency earner for the strapped former superpower: storing other countries' nuclear waste. But a senior U.S. official said Thursday night that Washington might withhold its cooperation with the plan if it isn't satisfied with certain aspects of Russian nuclear policy, such as Moscow's cooperation with Iran in building nuclear power stations.
NEWS
July 13, 2000 | ROBYN DIXON, TIMES STAFF WRITER
A top space engineer here advised NASA Administrator Daniel S. Goldin to say a few prayers Wednesday before the launch of Zvezda, the key Russian module of the international space station. "He probably prayed well, and it helped," said Vladimir S. Syromyatnikov, chief of the electromechanical department at Russia's Energiya space company. "It was a perfect, perfect launch."
NEWS
May 24, 2000 | From Times Wire Reports
Russia's Mir space station will be left unmanned next month while its foreign investors try to raise money for another mission, space officials said. Cosmonauts Sergei Zaletin and Alexander Kaleri, aboard Mir since April 6, are scheduled to return to Earth in mid-June, a mission control spokesman said.
NEWS
January 7, 2000 | MAURA REYNOLDS, TIMES STAFF WRITER
If Vladimir V. Putin rides to an easy victory in Russia's presidential election in March, he will have been borne on a tide of oil. To an extent little appreciated in the West, the Kremlin decisions that led to Boris N. Yeltsin's resignation and Putin's ascension were made possible by a surge in world oil prices last year that refilled the government's coffers, eased its dependence on foreign loans and helped finance the new war in Chechnya.
NEWS
July 29, 1999 | From Associated Press
The International Monetary Fund approved a $4.5-billion financial package for Russia on Wednesday aimed at helping to keep the country afloat through its December parliamentary elections and presidential voting scheduled for June 2000. About $640 million would be made available immediately, said an IMF spokeswoman. Other installments will be paid out during the next 17 months, she said.
NEWS
March 30, 1999 | ROBYN DIXON, TIMES STAFF WRITER
After months of tough negotiations, Russia won agreement in principle Monday on a new loan from the International Monetary Fund that could save the country from a disastrous default on its existing debt to the financial institution and win it some economic breathing space. Prime Minister Yevgeny M. Primakov promised that, in exchange, his government would produce a 2% primary budget surplus, though questions remain about his ability to deliver the program demanded by the IMF.
NEWS
July 17, 1998 | RICHARD C. PADDOCK, TIMES STAFF WRITER
Russia's lower house of parliament, under pressure to raise revenue so the country can qualify for $17.1 billion in new foreign loans, passed landmark legislation Thursday imposing a 5% sales tax on consumer goods. The measure, which would raise an estimated $6.5 billion for Russia's regional and local governments, is the centerpiece of a program proposed by President Boris N. Yeltsin to revive the struggling economy by slashing spending and raising taxes.
NEWS
July 9, 1998 | From Times Wire Reports
Coal miners blocked the Trans-Siberian railroad for a sixth day in the most visible sign of a cash crunch that has the nation racing against the clock to secure a bailout from the international community. The government said it expected the International Monetary Fund to decide within a month on a new credit package worth $10 billion to $15 billion, which would allow the nation to meet its obligations.
NEWS
March 28, 1999 | Associated Press
The chief of the International Monetary Fund arrived Saturday for talks on new loans to Russia and said tensions over NATO bombings in Yugoslavia will not affect the negotiations. Michel Camdessus told reporters Saturday that the IMF hopes to quickly come to an agreement on new loans for Russia. "We've got a degree of optimism," Camdessus said. "Our goal is to come to a credible agreement, which could assist your country in very difficult conditions."
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.
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