Word: rublee
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Greenspan already saved the world once in the fall of 1997, swooping in with rapid-fire cuts when the ruble imploded and Long Term Capital fell. He figured he was saving us again in 1999, this time from wage-induced inflation, with six rate hikes that ended with a half...
Companies like BMW that are willing to take a big plunge into Russia's uncertainties are still rare enough to win admiration from Moscow's financial experts, who have a good understanding of the tough local business climate. "Yeltsin's retirement is certainly good news, but Russia still lacks good...
One thing you can say about the Kremlin ? it hasn?t lost its sense of humor. Just when you thought Russia?s economy was down the toilet, the government on Thursday announced a $51 million budget surplus. Yes, surplus. That bit of statistical good news ? which the government attributes to...
Moscow's Kosovo mediation will likely survive Boris Yeltsin's latest putsch, but Russia's economy may wind up as "collateral damage." The surest sign of that Thursday was the ruble's resumption of its precipitous plunge, which the Yevgeny Primakov government, fired by Yeltsin on Wednesday, had managed to...
Back when Bill and Boris were new in their jobs, they called each other friend and partner, and Washington placed its chips on a bet that Russia could be Poland--able to shed Marxism in short order for free markets, democracy and cooperation with the West. This week, when Russian...