The rationale behind Russia’s controversial loans-for-shares scheme, say observers, is the reformers’ desire to privatize as many state assets as possible while they still hold power.
If so, the strong showing of the Communist party in Russian parliamentary elections last month appears to vindicate these fears. As Euromoney went to press, preliminary results indicated that the Communist party might win as many as a third of all seats in the Duma (lower house of parliament).
The Russian loans-for-shares scheme is one of the most controversial privatization programmes devised.
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