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Russia and the IMF: pseudo lending for pseudo reforms

Nikolic, M.; (2002) Russia and the IMF: pseudo lending for pseudo reforms. (Economics Working Papers 6). Centre for the Study of Economic and Social Change in Europe, SSEES, UCL: London, UK. Green open access

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Abstract

This paper argues that the IMF financial and good technical assistance to Russia in the 1990s has been less than generous. Not only the size of the assistance might have not been adequate but also the timing and actual disbursements of these funds were in sharp discord with pledges. More importantly, the IMF made a number of serious policy mistakes in both design and the implementation of the reforms, which significantly contributed to a delay in stabilisation of the economy and were thus costly in terms of the loss of welfare to the society.

Type: Working / discussion paper
Title: Russia and the IMF: pseudo lending for pseudo reforms
Open access status: An open access version is available from UCL Discovery
Publisher version: http://www.ssees.ucl.ac.uk/wp6sum.htm
Language: English
Keywords: International financial institutions, IMF, Russian economy, financial assistance
UCL classification: UCL > Provost and Vice Provost Offices > UCL SLASH > SSEES
URI: http://discovery.ucl.ac.uk/id/eprint/17575
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