The Russian Federation in Transition: External Developments

Benedicte Christensen

No 1993/074, IMF Working Papers from International Monetary Fund

Abstract: This paper discusses Russia’s balance of payments developments in recent years: the initial macroeconomic imbalances and systemic shocks which set the stage for the critical balance of payments difficulties Russia faced in the early 1990s; the lessons from the early phases of Russia’s economic reforms; the choices faced by the Russian Government and the international community in supporting the government’s reform efforts; and the external debt situation. This analysis also points to external adjustment issues which Russia will face in the period ahead, including the potential for an early reversal of the export decline and the nature of external financing and debt problems.

Keywords: WP; long-term debt; FSU area; CMEA country; FSU government; short-term debt; zero option; government import; creditor government guarantee; arms export; consumer goods; Russian government; EFTA country; union government; Exports; Imports; Debt service; Eastern Europe (search for similar items in EconPapers)
Pages: 78
Date: 1993-09-01
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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:1993/074

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