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. Last Updated: 07/27/2016

Zadornov To Quit in Duma Bid

Russia's special envoy to the International Monetary Fund and the World Bank said Thursday he would soon quit the post and run as a candidate in a December parliamentary election.

Mikhail Zadornov, a former finance minister, said at a news conference he was to leave the post as he had successfully completed his task of leading talks to win more loans from the IMF.

"The negotiations with the IMF have been completed successfully, and I have no doubts what their opinion will be. ... I consider that my mission has been completed," he said.

Zadornov said he would stand down after a mission from the IMF left Moscow on Friday.

He said he intended to run as a candidate in the Dec. 19 election to the State Duma, the lower house of parliament, as a candidate for the liberal Yabloko party, led by his long-standing friend Grigory Yavlinsky.

Yavlinsky has been one of the fiercest critics of the rule of President Boris Yeltsin, who appointed Zadornov as special IMF envoy in August.

Zadornov headed talks with the IMF that led to an agreement for a $4.5 billion aid package to repay old loans taken by Russia from the fund.

A first tranche of $640 million has already been disbursed, and Russia is hoping the mission in Moscow will approve the release of a second loan of the same amount.

Zadornov said the IMF board of directors would meet to discuss the loan on Sept. 17 to 20.

Zadornov said he saw no reason for new IMF loans to be delayed by probes into money laundering and the use of fund money.