The IMF and Russia in the 1990s
Publication date
Monday, 13.09.2004
Authors
John Oddling-Smee
Series
International Conference "Transition in the CIS: Achievements and New Challenges", Moscow, September 13-14, 2004
Annotation
A remarkably wide range of views has been expressed about the role of the IMF in Russia in the 1990s. Some people believe that most of the economic problems of Russia were attributable to the economic reform policies of successive Russian governments and that those policies were in turn pressed on them by the IMF. Others believe that the IMF’s influence in Russia was minor. Both Russian and foreign commentators can be found in both camps. The purpose of this paper is to explain the role of the IMF in Russia, as seen by a senior member of the IMF staff team working on Russia. It focuses on where and how the IMF made a difference to economic policies rather than on the quality and relevance of all the economic policy advice and technical assistance given by the IMF.
A remarkably wide range of views has been expressed about the role of the IMF in Russia in the 1990s. Some people believe that most of the economic problems of Russia were attributable to the economic reform policies of successive Russian governments and that those policies were in turn pressed on them by the IMF. Others believe that the IMF’s influence in Russia was minor. Both Russian and foreign commentators can be found in both camps. The purpose of this paper is to explain the role of the IMF in Russia, as seen by a senior member of the IMF staff team working on Russia. It focuses on where and how the IMF made a difference to economic policies rather than on the quality and relevance of all the economic policy advice and technical assistance given by the IMF.
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