RUSSIA TO SELL PRECIOUS METALS TO FINANCE PENSIONS.
Publication: Monitor Volume: 1 Issue: 138
President Boris Yeltsin has issued a decree authorizing the sale of precious metals to provide extra money to the Pension Fund, said Deputy Prime Minister Yuri Yarov. He believes the measure "will permit full payment of all pensions for November." (10) Roughly 35 million of Russia’s 150 million people receive pensions. Twenty million of these pensioners are likely voters, which makes a potent constituency in a country where political apathy is widespread. The government provided no details regarding the quantity or timing of the sale of state-stocked gold. Gold eased slightly in quiet trade yesterday, largely brushing off the report that Russia was to sell gold. It closed 50 cents down at $386.45 per ounce after fixing in the afternoon at $386.30.
Kozyrev Warns of "Another Nuremberg."