IMF Survey:Volume 28, Issue 15

Author: International Monetary Fund. External Relations Dept.

Volume/Issue: Volume 0028 Issue 015

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Banks and Banking , Exports and Imports , Finance , Economics- Macroeconomics , Public Policy - Social Services and Welfare , SV , IMF's website , recommendations of the IMF , IMF staff country report , IMF publications catalog , IMF survey , IMF staff country , IMF Office of internal audit , Structural reforms , Poverty reduction and development , Poverty reduction , Debt relief , Financial sector reform , Asia and Pacific , Global , Europe , Baltics , Africa , Caribbean

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Summary

In a press release issued on July 28, the IMF announced it has approved a 17-month Stand-By credit for Russia equivalent to SDR 3.3 billion (about $4.5 billion) to support the government’s 1999–2000 economic program. There will be seven equal disbursements of SDR 471.4 million (about $640 million), with the first installment to be released immediately. Subsequent installments will depend on quarterly reviews being completed and performance criteria and structural benchmarks beingmet. At the conclusion of the IMF Executive Board meeting, IMF First Deputy Managing Director Stanley Fischer made the following statement.