FINANCIAL AUTHORITIES FEAR ANOTHER RUN ON THE RUBLE.

Concerned about reports that Russian banks are shorting the ruble in anticipation of a further post-VE Day commemoration decline, the Russian finance ministry and central bank issued a statement pointing out that there were no objective reasons for a further decline, Kommersant-Daily reported May 3. The paper noted that the IMF funds that will soon become available should allow the Russian government to fund its deficit in the second quarter exclusively from non-inflationary sources.

No Progress on the Kuriles.