Articles by Duncan Robinson

Confusing Oil Taxes Hurt Russian Industry

Television Advertising Offers More

Too Much Water, Too Little Trade for Bakus Port

Moscow Office Space Isn't Always Expensive

Privatization Vouchers Put to Use

Finding a Lawyer Here: Not the Ordeal It Was

Drug Makers Unsure of Future

Finding the Right People Is Key

Frozen Foreign Funds: 8 Months and Waiting

Making Good Friends in Customs

U. S. May Slap Duty on Uranium

Truck Cargo Overtaking Ships

Picking a Good Bank: Keep Candy at Hand

Minefield for Business: Registering a Company

Ukrainian firms battle bureacracy tradition

Dismissal sours insurance sell-off

Western firms see chaos in Ukraine

Airlines can't use cargo port

Russian Navy taking buoys, Estonia says

Banking: Expensive and slow

Bank ignores trade credits

  • 14 August 92
  • Business Correspondent

Business falls victim to broken contracts

Minister disavows disputed bank plan

  • 07 August 92
  • Staff Writers
Russia's economics minister on Thursday disavowed a controversial July 28 order from the new Central Bank chief, Viktor Gerashchenko, that would have effectively written off the debt of state enterprises. The move by the Yeltsin governing team was an attempt to bring its market-oriented reform policy back on track after a week of fears, sparked by Gerashchenko's telegram, of a return to old-style economics. At a press conference, Economics Minister Andrei Nechayev said that most officials who attended a cabinet meeting Thursday had been opposed to the Central Bank plan, and that the bank's still unofficial 1. 5-trillion-ruble debt-relief plan would be rescinded. He called instead for 500 billion rubles in new credits for Russian industry, which has been staggering under the weight of a backlog in payment and a pile-up of unsold goods. Nechayev also advocated allowing certain firms to go bankrupt ""in extreme cases"", a step the Gerashchenko plan had sought to avoid.

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