IMF TO DISCUSS RUSSIAN LOAN TODAY.

The New York Times reports today that Russia has dropped plans for a 20 percent hike in import tariffs in order to clear the way for the first tranche of the $10.2 billion loan promised by the IMF. The board of directors of the IMF is to meet today to consider the loan, which was jeopardized earlier in the month when Russian finance minister Vladimir Panskov said Russia was thinking of raising import tariffs across the board. (New York Times, March 26) The head of Russia’s Central Bank says Russia has met all the IMF’s conditions for the loan, the BBC World Service reported today.

Moscow Lauds Contact Group Decision.