Still growling

Article Abstract:

Russian stock prices were affected by the Asian financial crisis from fall 1997, and have been under pressure despite starting to recover from their lowest point in Jan 1998. Russian interest rates were increased to 40% in defense of the ruble. A drop in world petroleum prices in early 1998 also affected the economy since petroleum accounts for much of Russia's imports. Interest rates have dropped, and the government aims to reduce spending which should help tackle the problem of the budget deficit, and reduce the vulnerability of the Russian economy. There is concern that the government may not be able to implement reforms, however, and this is affecting stock prices.

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Getting warmer

Article Abstract:

Russian share prices have performed well in 1996 and 1997 and could continue to rise. There are problems due to lack of transparency and doubts about accounting procedures, but the government is committed to reform and this includes stricter control of tax collection. The World Bank is providing a loan of $6 billion and the Internetional Monetary Fund is retstarting a loan payment schedule which had been postponed due to concern over Russia's desire for economic reform.

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Dangerous play

Article Abstract:

The Russian stock market has seen a rise in share prices prior to the presidential election of 1996. A victory for Boris Yeltsin could lead to a longer tern rise in share prices, optimists forecast. Gennady Zyuganov, Yeltsin's main rival and a communist candidate, could still win the election, and his economic policies are not favored by financial markets. There is also concern over Yeltsin's possible economic policies after the election.

Economic aspects, Elections

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