FINANCIAL TALKS ARE BILATERAL, NOT CIS-WIDE.

Valeriy Serov, Russian Minister for Cooperation with CIS Member States, told Kommersant-Daily May 3 that all discussions between Moscow and the members of the Commonwealth of Independent States concerning debt rescheduling and payment arrangements had been on a bilateral basis. Efforts to adopt a common, CIS-wide approach had failed. On the bilateral front, Serov noted that so far only one agreement had been achieved–with Ukraine In March–but added that Kyrgyzstan and Georgia were now seeking such accords.

Financial Authorities Fear Another Run on the Ruble.