Russia: Recent Economic Developments

September 22, 1999

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Russia: Recent Economic Developments, (USA: International Monetary Fund, 1999) accessed November 29, 2024

Summary

This paper reviews economic developments in the Russian Federation during 1990–98. Output fell precipitously in 1992–94 in response to the withdrawal of subsidies and the disruption in traditional economic relations, but the decline then began to taper off, and real GDP registered a small increase in 1997. However, the recovery proved short-lived, and GDP was already on a downward trend by the first half of 1998. This contraction was severely aggravated by the economic crisis that erupted in mid-1998.

Subject: Arrears, Banking, Commercial banks, Correspondent banking, Credit, Currencies, External debt, Financial institutions, Financial services, Money

Keywords: Arrears, Asia and Pacific, Commercial banks, Correspondent banking, CR, Currencies, Debt service, Economic crisis, Exchange rate, Federal government, Foreign currency, Global, Gross domestic product, ISCR, U.S. dollar

Publication Details

Pages:

160
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 1999/100
Stock No:

1RUSEA0011999
ISBN:

9781451832976
ISSN:

1934-7685

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