The Russian Federation in Transition: External Developments
September 1, 1993
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Summary
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.
Subject: Debt service, Exports, External debt, Foreign exchange, Imports, International trade
Keywords: arms export, CMEA country, consumer goods, creditor government guarantee, Debt service, Eastern Europe, EFTA country, Exports, FSU area, FSU government, government import, Imports, long-term debt, Russian government, short-term debt, union government, WP, zero option
Pages:
78
Volume:
1993
DOI:
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Issue:
074
Series:
Working Paper No. 1993/074
Stock No:
WPIEA0741993
ISBN:
9781451849516
ISSN:
1018-5941
