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Russia Foreign Debt

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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.
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NEWS
June 20, 1999 | TYLER MARSHALL and MAURA REYNOLDS, TIMES STAFF WRITERS
Within hours of an agreement between Russia and the United States on the shape of the international peacekeeping force for Kosovo, President Clinton and Russian Premier Sergei V. Stepashin worked Saturday to ease the chill that has characterized their countries' relations for much of the past two years. National Security Advisor Samuel R.
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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
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
March 23, 1999 | ROBYN DIXON, TIMES STAFF WRITER
This week is shaping up as a watershed for Russian President Boris N. Yeltsin, as allegations of bribes and corruption wash right up to the doors of the Kremlin--while the man seen as the president's main political rival jets to Washington for top-level meetings on loans that are critical to the nation's future. Yeltsin has been evincing increasing irritability toward his rival, Yevgeny M. Primakov, whom he was forced to accept as a compromise choice for prime minister last year.
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
November 14, 1991 | JAMES RISEN, TIMES STAFF WRITER
The Russian Federation, seeking to take on the central role of the crumbling central government of Soviet President Mikhail S. Gorbachev, said Wednesday that it is prepared to pay the Soviet Union's entire foreign debt, without direct contributions from other republics. Russian officials are concerned that Western fears over Moscow's inability to meet its debt obligations is making it difficult for the Soviet Union to attract new loans and foreign assistance.
NEWS
June 20, 1999 | TYLER MARSHALL and MAURA REYNOLDS, TIMES STAFF WRITERS
Within hours of an agreement between Russia and the United States on the shape of the international peacekeeping force for Kosovo, President Clinton and Russian Premier Sergei V. Stepashin worked Saturday to ease the chill that has characterized their countries' relations for much of the past two years. National Security Advisor Samuel R.
NEWS
September 26, 1998 | JOHN-THOR DAHLBURG, TIMES STAFF WRITER
A day after issuing a rough draft of its economic rescue plan, Russia's untested government was thrown into disarray Friday when the man in charge of renegotiating billions of dollars in debt with the West suddenly quit. Alexander N. Shokhin, a deputy prime minister, said he was resigning to protest the reappointment of the finance minister who was in place six weeks ago, when decisions by the previous government threw Russia's banking system and economy into chaos.
BUSINESS
December 29, 1994 | From Times Staff and Wire Reports
Russia Is High Default Risk, Report Says: Russia has more than two chances out of three of defaulting on a loan, Congress was told as the new Republican majority prepared to review foreign aid policies. The General Accounting Office responded to a request from Sen. Jim Sasser (D-Tenn.), outgoing chairman of the Senate Budget Committee, by estimating the long-run probability of default for 170 countries. It figured the chances of Russia defaulting at 67.6%, whatever the term of a loan may be.
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
March 23, 1999 | ROBYN DIXON, TIMES STAFF WRITER
This week is shaping up as a watershed for Russian President Boris N. Yeltsin, as allegations of bribes and corruption wash right up to the doors of the Kremlin--while the man seen as the president's main political rival jets to Washington for top-level meetings on loans that are critical to the nation's future. Yeltsin has been evincing increasing irritability toward his rival, Yevgeny M. Primakov, whom he was forced to accept as a compromise choice for prime minister last year.
NEWS
March 8, 1999 | RICHARD C. PADDOCK, TIMES STAFF WRITER
After nearly six months of relative calm under Prime Minister Yevgeny M. Primakov, the Russian government appears headed for renewed turmoil as tension between the Kremlin and key ministers mounts and top officials hint at a Cabinet shake-up. With President Boris N. Yeltsin frequently in the hospital and detached from day-to-day administration of the government, the economy has steadily deteriorated, and the ruble is now hovering at an all-time low of more than 23 to the dollar.
BUSINESS
December 31, 1998 | From Associated Press
Russia's default on $26 billion in Soviet-era debt to commercial banks worldwide this week won't sting top U.S. banks further since most wrote off their Russian debts months ago, economists said Wednesday. But the move gives banks an even stronger case for denying crucial new loans to help rouse the country from its crisis, analysts and economists in London and New York said. "Any U.S. bank is going to be extremely cautious about getting involved with Russia in the near future," said James J.
BUSINESS
November 5, 1998 | From Associated Press
After insisting it would pay its staggering foreign debts this year and next, Russia gave up and announced Wednesday it will have to ask its creditors to stretch out payments. The government was scheduled to pay $3.5 billion this year and $17.5 billion next year to foreign creditors. But First Deputy Prime Minister Yuri D. Maslyukov said, "Both tasks are too much for our weakened economy." Russia's economy was swept up in the global financial crisis last August.
NEWS
September 26, 1998 | JOHN-THOR DAHLBURG, TIMES STAFF WRITER
A day after issuing a rough draft of its economic rescue plan, Russia's untested government was thrown into disarray Friday when the man in charge of renegotiating billions of dollars in debt with the West suddenly quit. Alexander N. Shokhin, a deputy prime minister, said he was resigning to protest the reappointment of the finance minister who was in place six weeks ago, when decisions by the previous government threw Russia's banking system and economy into chaos.
NEWS
March 8, 1999 | RICHARD C. PADDOCK, TIMES STAFF WRITER
After nearly six months of relative calm under Prime Minister Yevgeny M. Primakov, the Russian government appears headed for renewed turmoil as tension between the Kremlin and key ministers mounts and top officials hint at a Cabinet shake-up. With President Boris N. Yeltsin frequently in the hospital and detached from day-to-day administration of the government, the economy has steadily deteriorated, and the ruble is now hovering at an all-time low of more than 23 to the dollar.
NEWS
January 5, 1992 | Associated Press
A group of 17 Western creditor nations agreed Saturday to allow eight former Soviet republics to suspend debt payments until the end of 1992. The pact allows deferral on the principal only of medium- and long-term external debts contracted before Jan. 1, 1991, and falling due between Dec. 5, 1991, and the end of 1992. The eight are Russia, Belarus, Kazakhstan, Armenia, Kyrgyzstan, Moldova, Tajikistan and Turkmenistan.
BUSINESS
September 2, 1998 | From Bloomberg News
Citicorp; Morgan Stanley, Dean Witter, Discover & Co.; and Bankers Trust Corp. on Tuesday joined a growing list of financial institutions announcing that plunging Russian markets saddled them with losses in trading and other businesses. Citicorp, the second-largest U.S. bank, said losses related to Russia will cut third-quarter earnings by $200 million.
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.
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