DISAGREEMENT SURFACES WITHIN LEADERSHIP ON FINANCIAL STABILIZATION.

Meanwhile, clear signs of disagreement over stabilization policies have emerged between Aleksandr Livshits, President Yeltsin’s chief economic adviser, and first deputy prime minister and economic policy overlord Anatoly Chubais. In an interview with Interfax November 22, Livshits attached high priority to reducing interest rates and making exports more profitable. The implication is that he would like to see both a reduction in financial stringency and an easing of conditions for exporters. The latter would entail either a lowering of the exchange rate corridor (probably to well over 5,000 rubles to the dollar) or a reduction in export duties, both of which would increase the ruble returns for exporters. He stated that there was disagreement between himself and Chubais on stablization policy; the crux of the disagreement is probably that Livshits wants to see some relaxation in both interest rate and exchange rate policies sooner than Chubais would consider wise. (8)

Shumeiko Sets Up New Political Movement.