International Business
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<i> Times Staff and Wire Reports</i>
Russia to Get $6.6 Billion From IMF: Managing Director Michel Camdessus said the International Monetary Fund will likely lend Russia that amount in the next 12 months. Camdessus told the U.S.-Russia Business Council he will recommend the loans to the IMF’s executive board to help stabilize and stimulate the Russian economy and that the board will probably approve them. In return, Russia must agree to reduce inflation and government spending, open its economy and reform government operations, he said.
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