Word: rublee
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A Determination to Transform. Officials in Washington reject the premise that Russia's reforms are doomed or that Yeltsin's position is in peril. "Are we losing Russia?" asks a senior Administration official. "No. On the contrary, I'm relatively optimistic." Slight progress is showing: according to one of six...
-- To 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...
Other former Soviet republics are already turning their backs on the ruble. Ukraine will launch a new currency called the grivna this spring; Ukraine has made coupons for the money the sole legal tender in state-owned shops. Officially pegged at a rate of one coupon per ruble, the scrip...
No wonder some experts in Moscow are predicting that the ruble will soon join the Soviet Union on history's trash heap. In an interview with the newspaper Rabochaya Tribuna, economist Yevgeni Petrakov foresaw the "downfall" of the ruble within several months and urged joint action by members of the...
The Hunt for a Safe Ruble