YELTSIN SETS UP NEW FUNDS TO END PRIVATE HOARDING.

BorisYeltsin has issued a decree setting up new mutual funds in orderto attract cash now in the hands of the population, Russian radioreported July 28. Russians have been reluctant to put their moneyin such funds because of fears that they are no more than pyramidschemes that will collapse. The new funds reportedly will be morestrictly regulated and depositors’ money will also be used tohelp finance the government budget deficit.

Gromov Launches Election Campaign.