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. Last Updated: 07/27/2016

Another Adviser Quits

A top economic adviser to the Russian government resigned Monday over spending plans he said would result in hyperinflation.

Russian television said Andrei Illarionov, the head of the government Center for Economic Reforms, said in his resignation letter to Prime Minister Viktor Chernomyrdin that "the government has fallen on its knees" before sectoral and regional lobbies and that this would "doom Russia to hyperinflation."

Illarionov follows U.S. economist Jeffrey Sachs and Swedish economist Anders Aslund in quitting since the cabinet resignations of reformers Yegor Gaidar and Boris Fyodorov.