From: gerald_a_levy (gerald_a_levy@MSN.COM)
Date: Sun Jun 08 2003 - 07:56:19 EDT
A short opinion piece titled "Bear Market for President" from "The Moscow Times" by Boris Kagarlitsky in which he discusses the prospects for the Russian and US economies, their inter-relationship, and what the consequence is likely to be in terms of Russian politics. Provocative assessment of US post-Iraq War economic strategy re oil prices and the dollar and how it will increase Russia's foreign debt. Of special note is the relation of the dollar-euro exchange rate to Russia's foreign debt: Kagarlitsky points out that Russia is "paid in dollars for its oil but services its debt and pays for a large percentage of imported goods in euros" and cites a presidential economic advisor, Andrei Illarion, as claiming that Russia lost between $15 and $17 billion in the last 2 years due to changes in the dollar-euro exchange rate. http://www.themoscowtimes.com/stories/2003/06/03/009.html In solidarity, Jerry
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