The IMF has had plenty of experience since 1991 with Russian commitments to meet agreed conditions. Broadly speaking, the commitments have not been met, yet policy has tended to move in the right direction — much of the time. The extension of a new IMF loan at this point probably does little to boost YeltsinÕs popularity among those currently disinclined to vote for him. Had the loan been withheld, however, that would probably have weakened his standing among the small core of reform supporters, which includes a large part of the Russian business community. However, elimination of oil and gas export duties would soon raise domestic prices to world levels, which will hardly be popular.
Chubais Dismisses Possibility of Renationalization.