Word: rublee
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This year the military men and their bureaucratic allies won a 27 billion- ruble, or 37%, increase in the defense budget. At the same time, the government's budget deficit for the first three months of 1991 reached 26.9 billion rubles -- its highest quarterly loss ever -- and the country's...
But many Soviets interpret the measure differently. They see it as one more piece of evidence that Mikhail Gorbachev has given way to hard-line pressures to curtail the reforms he ushered in himself. In the past month the Kremlin has sent the army into the Baltic republics, tightened controls...
The Soviets' school paid for their airfare, but the Harvard program must pay the rest of their costs, because the ruble is a nonconvertible currency.
By presidential decree, 50-ruble and 100-ruble bank notes (a 100-ruble note is worth anywhere from $5 to $160) are no longer legal tender in the U.S.S.R. In effect, many people's savings have been confiscated by the government under these provisions:
But prices cannot stabilize as long as there are too many rubles chasing too few consumer goods. The Shatalin plan calls for absorbing excess rubles from the Soviet economy by selling back state-owned assets to the public. In addition, Gorbachev last week raised the idea of devaluing the official...