Word: rublee
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On September 2, a week after the Russiangovernment devalued the ruble by 50 percent, Meyersaid Harvard lost about 1 percent of itsendowment, or $128 million, in Russianinvestments.
Russia was facing the threat of civil conflict, and ominous signs of disintegration were showing up in the provinces. It looked as if President Boris Yeltsin would once again put forward his choice for Prime Minister, Viktor Chernomyrdin--and parliament for a third time would reject him. That would mean...
Primakov also accepted the Duma's choice as the new head of the central bank, Viktor Gerashchenko. Actually, he is not new, as he was head of the bank twice before: once when many ordinary citizens had their savings wiped out by a disastrous reform in 1991, and again when...
While the politicians fiddled, the economy was decomposing. The ruble, bouncing wildly from rate to rate and inflicting on traders what they call "ruble whiplash," has lost half its value in the past month. Prices are heading skyward. Domestic products are--at long last--in greater demand, but their prices...
With the ruble collapsing? Yeltsin tottering? Clinton in Moscow? I've got six international economists and Kremlin watchers in makeup!