ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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BALANCE OF PAYMENTS-All-Too-Brief Respite

Washington visit, the US secretary of state, James Baker, in his address to NATO foreign ministers rejected outright notions of massive Western aid to the Soviet Union when he said, "I don't honestly think we can catalyse Soviet reform through a big-bang approach". At the same time, though, Baker was setting conditions for whatever support might be forthcoming from the West. His four conditions were that the Soviet Union must make a clear move "to embrace a real market economy", stop repressing the "independence-minded" Baltic States, cut military spending and end aid to "regimes that pursue internal repression". Baker made it clear subsequently that he had Cuba in mind when he referred to regimes practising internal repression. Evidently, however much the US is inclined to be supportive towards Gorbachev and his reforms, it does not envisage pledging of hundreds of biHions of dollars.

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