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That admission notwithstanding, the government continues to talk up the economic prospects. Earlier this week, Russian Finance Minister Alexei Kudrin told a global investment and finance conference in Moscow that the economy will grow by 2% or 3% in 2010. Kudrin said a recovery depends on a resurgence of private...

Author: /time Magazine | Title: Is the Worst of the Economic Crisis Over For Russia? | 3/7/2009 | See Source »

On Sunday, the finance minister is expected to submit a revised budget for 2009 which will assume an average oil price of $41 per barrel, down from the original $95. Despite the massive drop in oil revenues that represents, the new budget will boost spending by $13.99 billion to $262.8...

Author: /time Magazine | Title: Is the Worst of the Economic Crisis Over For Russia? | 3/7/2009 | See Source »

The infighting led the finance minister to resign last month, complaining that he had become "a hostage to politics." The lack of unity on the budget also led the International Monetary Fund (IMF) to delay disbursement of the second installment of a $16.4 billion loan, sorely needed to shore up...

Author: /time Magazine | Title: Political Fights Sour Ukraine Economy | 3/6/2009 | See Source »

That lackluster turnout failed to dissuade Page and venerable musher Joe Redington Sr., who mortgaged his home and sold a piece of land to help finance the event's start-up costs. Their efforts helped persuade officials to stage the first full-length Iditarod in March, 1973, in which Dick...

Author: /time Magazine | Title: The Iditarod | 3/6/2009 | See Source »

The dire backdrop of the economic crisis may not seem like the most celebratory theme to use for a self-titled ‘launch party,’ but the Harvard International Review did just that when it released its Winter 2009 issue last night at a soiree in...

Author: By Spencer H. Hardwick, CONTRIBUTING WRITER | Title: HIR Releases Winter Issue | 3/5/2009 | See Source »

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