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IMF Should Pull Out of Russia,

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By Philip Jennings

Nando Media
January 30, 2000

Davos, Switzerland - Saying that the West can no longer influence the course of events there, U.S. financier George Soros called Sunday for the International Monetary Fund to pull out of Russia. "I increasingly think that the political developments are moving in the wrong direction and that the IMF should pull out," he told a press conference on the sidelines of the World Economic Forum's annual meeting in Davos.

"In Russia we have lost the ability to influence the course of events too much. We had our chances, more or less 10 years, to influence things and move them in the right direction. We actually flopped it," he added.

An IMF delegation arrived in Moscow last week on a two-week visit to review Russia's progress on its 1999 targets and objectives for 2000. The IMF suspended lending to Russia last September amid concerns over the slow pace of economic reforms.

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FAIR USE NOTICE: This page contains copyrighted material the use of which has not been specifically authorized by the copyright owner. Global Policy Forum distributes this material without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. We believe this constitutes a fair use of any such copyrighted material as provided for in 17 U.S.C § 107. If you wish to use copyrighted material from this site for purposes of your own that go beyond fair use, you must obtain permission from the copyright owner.