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Headline: A risky game with the Paris Club Source: Euromoney Date: February 2001 Author: Peter Lee Russia never seems to play by the same rules as the rest of us. Its macroeconomic indicators for 2000 were the country’s best in 30 years. The economy grew by somewhere between 7% and 8%; tax reforms – part of a wide-ranging economic reform plan – helped the government record a fiscal surplus of 3% of GDP, after many years of high deficits; the strong oil price helped Russia to rebuild its foreign currency reserves to $28 billion. |
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