The IMF and Russia in the 1990's

John Odling-Smee

No 2004/155, IMF Working Papers from International Monetary Fund

Abstract: This paper explains the IMF's impact on economic policies in Russia, focusing on where the IMF made a difference. The Russian economic and political leadership essentially determined economic policies. The IMF's influence was modest: it had only a limited impact on overall fiscal policy and the major structural reforms, but it had a positive impact on monetary policy. A tougher position on fiscal policy in 1996-98 might have produced a better outcome. The G-7's concerns weakened the IMF. However, the IMF played a major role in transferring knowledge about macroeconomic policymaking and implementation.

Keywords: WP; economic policy; IMF staff; monetary policy; exchange rate; IMF advice; Economic transition; International Monetary Fund; macroeconomic policy; Russia; IMF leadership; IMF Policy advice; IMF view; IMF disbursement; IMF lending; IMF Moscow office; IMF mission; market economy; IMF team; IMF technical assistance; IMF leniency; Correspondent banking; Government debt management; Structural reforms; Global; worldwide TA provision (search for similar items in EconPapers)
Pages: 48
Date: 2004-08-01
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Citations: View citations in EconPapers (3)

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