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. Last Updated: 07/27/2016

Russia to Sign 1998 Economic Program




The Russian government and Central Bank will sign a 1998 economic program Saturday to open the way to continuation of a $10 billion loan from the International Monetary Fund, acting Prime Minister Sergei Kiriyenko said.


"This is an urgent issue. It can't wait even a week,'' Kiriyenko told reporters Friday.


The plan, which hasn't been made public, sets targets for key fiscal and monetary indicators to be met in order to win release of the IMF loan.


The program was ready late last month, but approval was delayed when President Boris Yeltsin fired the entire government March 23.


Although Kiriyenko hasn't been confirmed as prime minister, the IMF officials have said the signature of an acting prime minister is adequate.


An IMF mission is expected in Moscow late this month to make a recommendation on releasing the next $700 million tranche.