Word: loaning
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...officials believe the crisis will force Moscow to undertake reforms which would leave it better off in the long run -- but only if Russia can make it that long," says Meier. Tax reform has persuaded the IMF to release a delayed $670 million installment of a long-term loan, but Russia wants a $10 billion to $15 billion rescue plan. "The bailout has become the key to recovery," says Meier. "It's a psychological thing -- investors are waiting for the bailout to restore their confidence." And the miners out stopping trains want their wages...
...population into three groups. The first split is the easiest to see. It is between those who are sufficiently well off to pay tuition and those who are not. The second split is a little murkier. It is between those who are below a certain income level and receive loans and a job and have the rest covered by grants, and those who are wealthy enough to be responsible for more than the maximum federal loan amounts but not wealthy enough to pay off the bills as they come...
...promises of its president, may not be ready to change. "The Duma makes reform very difficult -- in part because the hard-liners wouldn't mind if the Yeltsin government fell," says Baumohl. Perhaps Yeltsin will disband the Duma after all -- if only to get his hands on that loan...
...there's no comfort in South Asia, whose leaders already know how domino-like recessions can be. First to tumble will likely be Malaysia, which was hoping for a low-interest $1 billion or $2 billion loan from its Far East financier. Fat chance of that now. And Japan itself? Prime Minister Hashimoto easily survived a no-confidence vote Friday -- but when it comes to the elections next month, all bets...
...International Monetary Fund concluded, or pretended to conclude, that Yeltsin's deficit-fighting plans sounded good enough for it to hand over a delayed installment of $670 million, part of a $10 billion loan package. While the IMF denies it is planning a big, new rescue effort, many financial analysts say that is what it will take to restore confidence. With that in mind, Anatoli Chubais, a former Deputy Prime Minister, arrived in Washington Friday on an emergency mission to talk with the U.S. Treasury, the IMF and the World Bank...