Following the trend in western markets, Russian stock prices jumped nearly 30 percent yesterday, after falling 20 percent the previous day. Traders say they expect Russian stocks to regain all the losses they suffered during the recent turmoil on world equity markets. (UPI, October 29) Meanwhile, IMF deputy managing director Stanley Fischer yesterday postponed a scheduled visit to Moscow, reportedly as a result of the financial upheaval on Asian markets. He had been expected to join an IMF mission which is conducting a regular quarterly monitoring of Russia’s economic performance before making recommendations regarding the latest $700 million tranche of the IMF’s $10.1 billion extended loan to Russia. The mission is expected to complete its work this week. (Itar-Tass, October 29)
Austrian Chancellor in Russia.