RUSSIA-Resolving Financial Crisis

Resolving Financial Crisis R G Gidadhubli THE Russian government under prime minister Sergei Kirienko is in the process of initiating an 'Anti-Crisis Programme' to deal with the severe financial problem facing the country. Even as the detailed legislative measures of the programme, which need the approval by various political parties in the Duma are being finalised Boris Yeltsin is fully and strongly supporting the government policy even threatening to use his presidential powers to push ahead the proposed programme through decrees in case the Duma fails to approve the provisions of the programme before it breaks for summer by the middle of July 1998, The future of the Russian economy at the turn of this century will very much depend upon overcoming the current financial crisis. Hence it is important to know the nature and magnitude of Russia's financial crisis, the roots of the crisis and how far the programme of the government will solve the financial crisis.