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. Last Updated: 07/27/2016

Compromise for IMF

MOSCOW -- The government and lawmakers said Tuesday they were moving toward a compromise on a package of austerity bills needed for Russia to qualify for a vital loan from the International Monetary Fund.

Prime Minister Sergei Stepashin's Cabinet needs the austerity bills passed this month before the Duma goes on a summer recess. Otherwise, it could be months before Russia receives a $4.5 billion IMF loan that the country needs to pay off some of its debts.