Moscow Puts Moderate in Charge of Finances: Ruble Off Sharply As Banks Cut Losses by Mark Whitehouse
The Wall Street Journal September 16, 1998 Moscow Puts Moderate in Charge of Finances: Ruble Off Sharply as Banks Cut Losses by Mark Whitehouse MOSCOW -- Russia appeared to be seeking a that we used earlier [and] that we now need to middle road between command and free-market consider again," he said. models yesterday as Alexander Shokhin, a leading lawmaker and moderate economist, said he would The new Central Bank chairman, Viktor accept a job as deputy prime minister in charge of Gerashchenko, said yesterday that Russia would the country's finances . discuss revising its monetary targets with the International Monetary Fund. The IMF's senior The ruble, meanwhile, weakened sharply after a official for Russia, John Odling-Smee, arrived in rally analysts said was engineered by banks to cut Moscow yesterday for talks. Mr. Primakov is to their losses on forward contracts due yesterday. meet Mr. Odling-Smee today. Mr. Shokhin, who heads the centrist Our Home Groping for an alternative to the austerity Is Russia party in the parliament, will join the advocated by the IMF, the government has turned to Communist Yuri Maslyukov, former head of the a group of veteran economists, including Leonid Soviet-era planning agency Gosplan and now first Abalkin, Oleg Bogomolov and Nikolai Petrakov. Mr. deputy prime minister, in reshaping economic Bogomolov told the Interfax news agency yesterday policy. Boris Fyodorov, the last liberal reformer in that the group would present a detailed plan within the government, lost his post as head of the State two weeks. A preliminary version published in the Tax Service to Georgy Boos, another Our Home Russian daily Kommersant featured greater member, according to the Interfax news agency.
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