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. Last Updated: 07/27/2016

Inflation Key to Loan

MOSCOW (MT) - It is still possible for Russia to qualify for several billion dollars in Western assistance this year if it takes steps to bring inflation under control, a senior U. S. official traveling in Moscow said Wednesday.

The official, who declined to be named, said after a meeting with Deputy Prime Minister Chubais and Central Bank chairman Viktor Gerashchenko that there was a "real possibility" Russia could receive a $1. 5 billion loan from the International Monetary Fund this year. "This is a crucial juncture in the push for stabilization", the official said.

Other Western aid officials, however, have said they doubted that Russia could qualify for the assistance. The World Bank will tie an additional $600 million loan to the IMF negotiations.