Word: viktor
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...lobby for a job but has carefully managed to be on hand when the powers that be were casting around for a candidate. He was a last-minute compromise candidate for the premiership last September when, after weeks of chaos, it became clear that Yeltsin's attempt to reappoint Viktor Chernomyrdin Prime Minister was leading the country deeper into crisis...
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...