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The IMF and Russia in the 1990's
Author:
Mr. John C. Odling-Smee
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Series:
IMF Working Papers
Volume/Issue:
Volume 2004: Issue 155
Language:
English
Publication Date:
01 Aug 2004
DOI:
https://doi.org/10.5089/9781451857344.001
ISBN:
9781451857344
ISSN:
1018-5941
Pages:
48
Keywords:
WP; economic policy; IMF staff; monetary policy; exchange rate; IMF advice; Economic transition; International Monetary Fund; macroeconomic policy; Russia; IMF leadership; IMF Policy advice; IMF view; IMF disbursement; IMF lending; IMF Moscow office; IMF mission; market economy; IMF team; IMF technical assistance; IMF leniency; Correspondent banking; Government debt management; Structural reforms; Global; worldwide TA provision
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper explains the IMF's impact on economic policies in Russia, focusing on where the IMF made a difference. The Russian economic and political leadership essentially determined economic policies. The IMF's influence was modest: it had only a limited impact on overall fiscal policy and the major structural reforms, but it had a positive impact on monetary policy. A tougher position on fiscal policy in 1996-98 might have produced a better outcome. The G-7's concerns weakened the IMF. However, the IMF played a major role in transferring knowledge about macroeconomic policymaking and implementation.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 2004: Issue 155