Word: gerashchenko
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Though Yeltsin tried to keep him on, another top free-marketeer, Finance Minister Boris Fyodorov, resigned, saying he would not serve in a government that also retained the free-spending central-bank chief Viktor Gerashchenko. Three other reform ministers lost the rank of Deputy Prime Minister. Only one new economic thinker remained in the Cabinet: Anatoli Chubais, who heads the program that is successfully privatizing small businesses. "I see no tragedy in some people leaving the government," sniffed Chernomyrdin. "It is a natural process...
...VICTOR GERASHCHENKO...
...President, Alexander Rutskoi, to form Civic Union, which is probably the best- organized political faction in the country. Yeltsin, zigzagging between conservatives and reformers in the same manner he denounced when Gorbachev was doing it, has named conservatives to three of Russia's eight deputy premierships, and installed Viktor Gerashchenko, who once ran the Soviet Gosbank, as head of the new Russian central bank...
...resulting mass unemployment would simply be too great, and that argument seems to be converting some reformers. Says Sergei Stankevich, a Yeltsin adviser: "The orthodox liberal idea of letting the majority of enterprises go bankrupt and then, after we have millions of unemployed, retrain, reorganize, sell is absolute nonsense." Gerashchenko announced last month that he intends to extend loans to the wheezing dinosaurs, enabling them to pay off vast debts, and to raise part of the money by printing 350 billion to 400 billion new rubles...
...have been investing finances in shareholding companies, joint ventures, commercial banks and other commercial structures of various kinds," according to an announcement by the Soviet State bank, which last week froze all party funds. The bank itself may have been involved. The Russian Information Agency reported that chairman Victor Gerashchenko, who originally was fired last week for supporting the coup but then was reinstated, asked a U.S.-based firm to convert 500 million party rubles into dollars. The company refused...