Word: gaidar
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...Reform is working," Deputy Prime Minister Yegor Gaidar, Yeltsin's chief economic adviser, told Russians last week on television. Then he added, "It is working slowly and badly. We may know better than anyone else how unsteady are these very, very weak signs of stabilization that have taken shape." In a personal appeal published last week in London's Financial Times, Gaidar declared, "Our basic task is this: we must conquer a powerful inflation bequeathed by the old system, while at the same time rapidly introducing market forces and private ownership." Those policies are coming into place, he wrote...
...build faith in the Russian ruble -- something it has not enjoyed since the 1920s -- Moscow wants the seven industrial powers to put up $5 billion. This fund would, in theory, stabilize the currency by being available to support it at a single, reasonable exchange rate; Gaidar hopes for about 50 to the dollar compared with the current free-market rate of 170. If the fund works properly, it should not have to be spent...
...Yeltsin and Gaidar are asking for $6 billion this year in food and medicine. Russia's supplies are likely to be worse next winter, and stocks of basic needs like aspirin and syringes are critically short...
...past attacked his party for its support of the IMF. Congress would approve this contribution, Obey said, only if President Bush were to "state to the country in a very public way why these actions are necessary." But Brady also repeated the consistent U.S. rejection of Gaidar's call for the $5 billion fund to support the ruble, arguing that the Russian economy is still too shaken by inflation and unsecured credit to fix a firm value on the currency...
...Democracy faction split with party hard-liners and backed Yeltsin's campaign for Russia's top post. Yeltsin rewarded him with the second spot, but since last fall Rutskoi has turned on his boss with a very public campaign against the economic reform plan of Deputy Prime Minister Yegor Gaidar. Though a proponent of reform in principle, Rutskoi recently described Gaidar's program of freeing prices before privatizing state property as "economic genocide of the Russian people...