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. Last Updated: 07/27/2016

Fund Visit To Proceed As Planned




Russia's sudden government shakeup won't have an impact on the scheduled visit of an International Monetary Fund mission to Moscow starting Aug. 19, Interfax reported Wednesday.


President Boris Yeltsin fired Prime Minister Sergei Stepashin and his Cabinet on Monday, naming Federal Security Service chief Vladimir Putin to replace him.


The IMF hasn't notified the Foreign Ministry of any intention to change the date of the visit, Interfax quoted an unidentified ministry source as saying.


IMF officials in Moscow couldn't immediately be reached for comment. The IMF's board of directors agreed July 28 to issue $4.5 billion in new loans to Moscow to help it refinance its loans to the fund. A first tranche of $640 million has already been released.


The mission will review Russia's performance to determine whether a second $640 million loan tranche is warranted.