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. Last Updated: 07/27/2016

IMF Credits Not Earmarked

In response to "Pskov Chief Hoping for 'Nemtsov Effect,'" Oct. 23.





Editor,


I read the article with interest, but was surprised to find the reference to the International Monetary Fund (IMF) in connection with the financing and/or purchase of the new fleet of buses bought by the city of Pskov.


The IMF deals with and lends$only to its member (national) governments, of which there are currently 181. These credits are made available for general balance of payments purposes, without earmarking. Therefore, while the IMF has heretofore committed some $20 billion, and actually disbursed some $12.8 billion to the government of the Russian Federation in the context of several lending facilities connected with assisting Russia in the process of macroeconomic stabilization and reform, this financing has involved only the federal government. The reference to the IMF in this article is therefore a mistake; the intention must have been to refer to some other financial institution or possibly a commercial enterprise.


Thomas A. Wolf


Head of Resident Mission


International Monetary Fund


Professional Women


In response to "Pickering Prophesies a Miracle for Russia," Oct. 22.





Editor,


I have held the Moscow Times in high regard, but was greatly disappointed to see how, in a recent front page article, the American Chamber of Commerce was referred to as a group of "businessmen."


Both professional women and men are active members in the Chamber, and it is an injustice not to give recognition to this fact.


Michelle P. Tien


Forsyth's Foresight


In response to "Ripping Moscow Potboiler," Oct. 19.





Editor,


Robin Lodge writes about Frederick Forsyth's latest book "Icon" that the author "has an uncanny knack of getting it right."


Mr. Lodge takes another novel, "The Devil's Alternative," as an example of his excellent political intuition, saying Forsyth predicted both the "Soviet invasion of Afghanistan and the revolution in Iran."


However, in "The Devil's Alternative," there is no mention of, or hinting at, any upcoming Russian invasion of Afghanistan or Khomeini's actions in Tehran.


I share some of Mr. Lodge's enthusiasm for Forsyth's work, but his story on the Iraq-Kuwait war was something of a sleeping-pill, wasn't it?


Bj?rn L?fstr?m