Word: viktor
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
After a spectacular devaluation and default, what's a country to do? The answer from Russia's new central banker, VIKTOR GERASHCHENKO, is to print money, and lots of it. Printing presses are said to have been rolling for days, cranking out billions of nearly worthless rubles. Just how many have been printed is a state secret, but BORIS NEMTSOV, the 38-year-old (recently retired) Deputy Prime Minister, puts the figure at "between 9 billion and 12 billion rubles" (some $600 million to $800 million). Officially, the central bank only admits to printing "less than 1 billion" rubles...
After a spectacular devaluation and default, what's a country to do? The answer from Russia's new central banker, Viktor Geraschenko, is to print money, and lots of it. Printing presses are said to have been rolling for days, cranking out billions of nearly worthless rubles. Just how many have been printed is a state secret, but Boris Nemtsov, the 38-year-old (recently retired) deputy prime minister, puts the figure at "between 9 billion and 12 billion rubles" (some $600 million to $800 million). Officially, the central bank only admits to printing "less than 1 billion" rubles...
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 dissolution of the Duma and new elections, as banks continued to fail and the ruble plunged. But the communists in parliament warned that if Yeltsin ordered them to leave, they would not go. They started up the machinery to impeach the President. Key military and security units around Moscow were...
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 the ruble sank 30% on a single day, Black Tuesday, in 1994. During both tours of duty, Gerashchenko was widely criticized for heedlessly printing rubles and pumping almost unlimited credit into rusting, unproductive industrial enterprises and collective farms...
...head sunk in his hands, his lips tight in a glum line as reporters badgered him about Monica. Boris Yeltsin next to him, befuddled and disoriented as he struggled to link answers coherently to questions. When a journalist asked whether the Russian President would accept someone other than Viktor Chernomyrdin as nominee for Prime Minister, Yeltsin paused for a moment that grew painfully long. "Well," he finally said, "I must say, we will witness quite a few events for us to be able to achieve these results. That...