DATE=12/17/1999
TYPE=CORRESPONDENT REPORT
TITLE=IMF / RUSSIA (L-ONLY)
NUMBER=2-257258
BYLINE=BARRY WOOD
DATELINE=WASHINGTON
CONTENT=
VOICED AT:

INTRO:  The International Monetary Fund says Russia is 
unlikely to receive its delayed loan installment from 
the I-M-F until January at the earliest.  I-M-F 
spokesman Tom Dawson outlined the reasons for the 
delay (Friday) without mentioning the situation in 
Chechnya.  Barry Wood has more on the story.

TEXT:  The delays have gone on for four months, 
prompting complaints from the Russians that Moscow is 
being treated unfairly.  To allay those concerns, the 
head of the I-M-F last week listed 10 conditions the 
Russians must meet before the 640-million-dollar 
payment can be released. 

Mr. Dawson suggests it will take more time for the 
Russians to comply with the loan conditions.

            /// DAWSON ACT ///

      We are in regular contact with them on those 
      matters.  I don't think I have any more at this 
      point.  I think with the holidays coming up it 
      is likely be well into January before we have 
      movement as to what the next step might be.

            /// END ACT ///

Mr. Dawson says it would be customary for an I-M-F 
team to travel to Moscow to assess compliance prior to 
setting a date for the release of the blocked loan.

The loan conditions are called structural benchmarks. 
Among other things, they require the Russians to boost 
tax collections from electric power, heating, and gas 
companies.  The list of highly-specific conditions 
also calls for banks to make regular public statements 
on their finances, and for a amendment to the law on 
corporate bankruptcy, to allow companies to be 
liquidated instead of being restructured by managers 
or other politically connected insiders.

The perception in Russia is that Western governments, 
which control the I-M-F, are blocking the loan to 
punish Moscow for its military operation in Chechnya.   
(Signed)

NEB/BDW/WTW



17-Dec-1999 14:13 PM EDT (17-Dec-1999 1913 UTC)
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Source: Voice of America
.