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- <text id=93TT1545>
- <title>
- Apr. 26, 1993: To Russia With Strings
- </title>
- <history>
- TIME--The Weekly Newsmagazine--1993
- Apr. 26, 1993 The Truth about Dinosaurs
- </history>
- <article>
- <source>Time Magazine</source>
- <hdr>
- THE WEEK, Page 9
- WORLD
- To Russia With Strings
- </hdr>
- <body>
- <p>The Group of Seven pieces together a $28 billion aid package
- for Moscow
- </p>
- <p> Bailouts of small economies in trouble typically call for
- painful measures unpopular with those receiving the help.
- Overhauling a foundering former superpower, a job almost never
- before attempted, seems to involve much the same formula--just
- on a vaster scale. So in working out a package of aid to Russia
- that could total more than $28 billion, the seven leading
- industrialized nations--the Group of Seven--attached
- conditions that will make much of the plan unpalatable to
- Moscow. Nevertheless, said Deputy Prime Minister Boris Fyodorov,
- Russia welcomes the effort as a "practical, visible approach."
- </p>
- <p> Much of the G-7 aid, including an International Monetary
- Fund reserve aimed at stabilizing the ruble, is contingent on
- Russia's curbing its inflation, now running at 25% a month.
- Other grants, most funneled through international agencies,
- would be intended to develop energy resources and protect the
- environment. Only three nations pledged direct assistance:
- Britain ($600 million), Japan ($1.8 billion) and the U.S., which
- came up with $1.8 billion in addition to Bill Clinton's $1.6
- billion summit ante two weeks ago. The new U.S. funds, however,
- have yet to be approved by Congress.
- </p>
-
- </body>
- </article>
- </text>
-
-