DATE=9/21/1999
TYPE=CORRESPONDENT REPORT
TITLE=WORLD BANK RUSSIA (L-ONLY)
NUMBER=2-254152
BYLINE=BARRY WOOD
DATELINE=WASHINGTON
INTERNET=YES
CONTENT=
VOICED AT:
INTRO: World Bank President James Wolfensohn says
there is no evidence that World Bank money lent to
Russia has been misused, despite allegations to the
contrary. V-O-A's Barry Wood reports Mr. Wolfensohn
spoke at a news conference ahead of the annual World
Bank - International Monetary Fund meeting in
Washington.
TEXT: Mr. Wolfensohn says audits have been completed
on 30 of 34 World Bank loans to Russia and that no
wrong-doing has yet been discovered. After the I-M-F,
the World Bank is the biggest lender to Russia,
providing over five-billion-dollars in the last few
years.
Mr. Wolfensohn says he is very concerned about
corruption in Russia, but that it is important to
recognize that the country has made substantial
economic progress since the collapse of communism.
/// FIRST WOLFENSOHN ACT ///
What you have to remember in the case of Russia
is that this is a new society that has been in
its current form for only ten years. And ten
years is a very quick time to bring about a
change from a command and control economy to a
market economy. And what we've been doing in
Russia, particularly in the last three or four
years, is working on structural reform.
/// END ACT ///
Mr. Wolfensohn says progress has been made in
reforming bankruptcy law, pensions and the justice
system. The World Bank president says it is vital that
western institutions continue to support reform in
Russia.
/// SECOND WOLFENSOHN ACT ///
I just think, however, that this crisis - which
is very positive because it gets it all out in
the open - should be seen as an opportunity to
move forward and not withdraw. I don't think we
should make wild loans, and I don't think we
should throw money away. I've never said that.
I've been a vigorous campaigner on the
corruption issue.
/// END ACT ///
Mr. Wolfensohn says he worries that the uneven course
of reform in Russia has left 45 percent of the
population living in poverty.
Meanwhile, the International Monetary Fund says it is
delaying the next installment of its latest loan to
Russia until a U-S congressional investigation on
alleged Russian money laundering through U-S banks is
completed. (Signed)
NEB/BDW/LTD/gm
21-Sep-1999 13:33 PM EDT (21-Sep-1999 1733 UTC)
NNNN
Source: Voice of America
.
|
NEWSLETTER
|
|
Join the GlobalSecurity.org mailing list
|
|
|
