Fuelling Russia's economy

Article Abstract:

Russia has been granted aid by the International Monetary Fund (IMF) and has promised to carry out reforms in return for this. The reforms have not been carried out, and this is becoming increasingly clear with a scandal relating to money laundering, which involves an apparent misuse of IMF credits. Russia's central bank has admitted channeling funds, including IMF money, into a company based in Jersey that speculated in the bond market. Western countries are risking coirruption through their relations with Russia, and apparently accepting dubious practices. There should be an end to the pretence that Russia is seeking to reform.

Cover Story, Russia, Russian foreign relations

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First steps to safety

Article Abstract:

Brazil has reached an agreement with the International Monetary Fund (IMF) which could help to prevent the country's economic position from deteriorating. The Brazilian economy could start to recover from mid 1999, and the IMF plan forecasts growth arising from exports. The government needs to impose discipline, and reassure investors, if this plan is to succeed. There is a risk of inflation, which means that labor unions have to be controlled, and there is also a risk from a more severe recession than forecast.

Economic Programs, Administration of Economic Programs, Economic policy, Brazil, International economic relations, Brazilian foreign relations

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