The International Monetary Fund announced last week that it was delaying payment of the latest $700 million tranche of its $10.1 billion loan to Russia. The reason is the Russian government’s failure to improve tax collection. The IMF said the delayed tranche may be paid in January or February 1998. First Deputy Prime Minister and Finance Minister Anatoly Chubais recently admitted that the government had gathered only 52 percent of the taxes planned for the first nine months of the year. (Reuter, October 31)
Growth Predicted for Former Communist Countries.