RUSSIA WARNED THAT IMPORT TARIFFS COULD KILL IMF LOAN.
Publication: Monitor Volume: 2 Issue: 48
Thomas Wolf, head of the IMF mission in Moscow, was quoted yesterday as saying that moves by Russia to restrict imports, including raising tariffs, would arouse serious concern at the IMF and could jeopardize the $10.2 billion three-year extended loan Russia is hoping to receive from the IMF. Wolf recalled that, when IMF managing director Michel Camdessus visited Moscow last month, he was assured by Russian leaders that Russia would reduce import duties and refrain from placing quotas on either exports or imports. Russia stands to receive $4 billion in the first year of the three-year program, he was quoted as saying. (5)
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