YELTSIN TO RESTRICT COMPANIES’ ACCESS TO CASH.

Publication: Monitor Volume: 2 Issue: 57

Russia’s finance minister Vladimir Panskov revealed yesterday that President Boris Yeltsin is planning to issue a decree restricting the ability of Russian enterprises to withdraw cash from their bank accounts for purposes other than paying wages and covering business travel expenses. (Financial Times, March 22) The measure is intended both to free up cash urgently needed to pay long overdue wages and to clamp down on tax evasion.

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