DATE=3/29/99
TYPE=CORRESPONDENT REPORT
NUMBER=2-247358
TITLE=RUSSIA/I-M-F (L ONLY)
BYLINE=PETER HEINLEIN
DATELINE=MOSCOW
CONTENT=
VOICED AT:
INTRO: RUSSIA AND THE INTERNATIONAL MONETARY FUND HAVE AGREED,
IN PRINCIPLE, ON A NEW, MULTI-BILLION DOLLAR LOAN PACKAGE.
CORRESPONDENT PETER HEINLEIN IN MOSCOW REPORTS THE DEAL CAME
AFTER MONTHS OF ON-AGAIN, OFF-AGAIN TALKS.
TEXT: PRIME MINISTER YEVGENY PRIMAKOV SAID MONDAY HE AND
VISITING I-M-F DIRECTOR MICHEL CAMDESSUS HAD SIGNED A COMMUNIQUE
ON A NEW CREDIT PACKAGE. THE DEAL WAS STRUCK AFTER SEVERAL HOURS
OF CLOSED-DOOR TALKS.
AT A JOINT MEETING WITH REPORTERS, THE TWO MEN GAVE LITTLE
INFORMATION ABOUT THE LOAN, OR ABOUT THEIR LONGER-THAN-EXPECTED
TALKS. MR. PRIMAKOV SAID ONLY THAT RUSSIA HAD DECIDED TO KEEP
WORKING WITH THE LENDING AGENCY.
/// PRIMAKOV ACT IN RUSSIAN, THEN FADE TO... ///
HE SAID WE AGREED TO COOPERATE. HE SAID, IN TURN THE I-M-F WOULD
PROVIDE CASH TO HELP MOSCOW AVOID DEFAULTING ON PREVIOUS LOANS.
HE SAID AN I-M-F TEAM WOULD TRAVEL TO MOSCOW NEXT WEEK FOR
FURTHER TALKS ON THE LOAN PACKAGE.
MR. CAMDESSUS NODDED HIS APPROVAL, BUT PROVIDED NO FURTHER
DETAILS.
THE CHILLY ATMOSPHERE CONTRASTED WITH MR. CAMDESSUS'S UPBEAT
COMMENTS EARLIER IN THE DAY.
AFTER SPEAKING BY TELEPHONE TO PRESIDENT BORIS YELTSIN, THE I-M-F
CHIEF INDICATED LOAN NEGOTIATIONS WERE GOING WELL. AND A
KREMLIN SPOKESMAN WAS QUOTED AS SAYING MR. CAMDESSUS HAD PROMISED
GOOD NEWS FOR RUSSIA.
BUT COMMUNISTS AND HARDLINERS WHO DOMINATE THE DUMA, THE LOWER
HOUSE OF PARLIAMENT, WERE CLEARLY IN NO MOOD FOR COMPROMISE,
DESPITE THEIR COUNTRY'S DESPERATE NEED FOR CASH. AFTER MEETING
MR. CAMDESSUS, COMMUNIST PARTY CHIEF GENNADY ZYUGANOV ACCUSED THE
I-M-F CHIEF OF -- ARM-TWISTING AND SETTING UNREALISTIC CONDITIONS
FOR THE LOAN.
// OPT // AT THE SAME TIME, THE COMMUNIST LEADER EXPRESSED
CONFIDENCE RUSSIA WOULD GET THE MONEY, IF ONLY BECAUSE IT IS IS
IN THE I-M-F'S BEST INTERESTS.
/// ZYUGANOV ACT IN RUSSIAN, THEN FADE TO...///
HE SAYS -- CONSIDERING THAT THEY ARE GIVING THE MONEY TO
THEMSELVES, JUST TAKING IT FROM ONE POCKET AND PUTTING INTO
ANOTHER, I THINK THEY WILL GIVE IT. MR. ZYUGANOV WAS REFERRING
TO RUSSIA'S NEED TO AVOID DEFAULT ON PREVIOUS I-M-F CREDITS. //
END OPT //
INTERNATIONAL ECONOMISTS SAY THE AMOUNT OF THE NEW LOAN IS LIKELY
TO BE ABOUT FIVE-BILLION DOLLARS, JUST ENOUGH TO COVER THE AMOUNT
RUSSIA OWES ON PREVIOUS LOANS.
THE I-M-F DIRECTOR'S MOSCOW VISIT WAS HASTILY ARRANGED AFTER
PRIME MINISTER PRIMAKOV CANCELLED A TRIP TO THE UNITED STATES IN
MID-FLIGHT LAST WEEK TO PROTEST ANTICIPATED NATO AIR STRIKES ON
YUGOSLAVIA. BUT MR. CAMDESSUS TOLD REPORTERS HIS TALKS HAD NOT
BEEN AFFECTED BY RUSSIA'S RIFT WITH THE WEST OVER THE BOMBINGS.
(SIGNED)
NEB/PFH/PCF/RAE
29-Mar-99 11:44 AM EST (1644 UTC)
NNNN
Source: Voice of America
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