DATE=12/17/1999
TYPE=CORRESPONDENT REPORT
TITLE=IMF / RUSSIA (L-ONLY)
NUMBER=2-257258
BYLINE=BARRY WOOD
DATELINE=WASHINGTON
CONTENT=
VOICED AT:
INTRO: The International Monetary Fund says Russia is
unlikely to receive its delayed loan installment from
the I-M-F until January at the earliest. I-M-F
spokesman Tom Dawson outlined the reasons for the
delay (Friday) without mentioning the situation in
Chechnya. Barry Wood has more on the story.
TEXT: The delays have gone on for four months,
prompting complaints from the Russians that Moscow is
being treated unfairly. To allay those concerns, the
head of the I-M-F last week listed 10 conditions the
Russians must meet before the 640-million-dollar
payment can be released.
Mr. Dawson suggests it will take more time for the
Russians to comply with the loan conditions.
/// DAWSON ACT ///
We are in regular contact with them on those
matters. I don't think I have any more at this
point. I think with the holidays coming up it
is likely be well into January before we have
movement as to what the next step might be.
/// END ACT ///
Mr. Dawson says it would be customary for an I-M-F
team to travel to Moscow to assess compliance prior to
setting a date for the release of the blocked loan.
The loan conditions are called structural benchmarks.
Among other things, they require the Russians to boost
tax collections from electric power, heating, and gas
companies. The list of highly-specific conditions
also calls for banks to make regular public statements
on their finances, and for a amendment to the law on
corporate bankruptcy, to allow companies to be
liquidated instead of being restructured by managers
or other politically connected insiders.
The perception in Russia is that Western governments,
which control the I-M-F, are blocking the loan to
punish Moscow for its military operation in Chechnya.
(Signed)
NEB/BDW/WTW
17-Dec-1999 14:13 PM EDT (17-Dec-1999 1913 UTC)
NNNN
Source: Voice of America
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