Skip Navigation

Scout Archives

Home Projects Publications Archives About Sign Up or Log In

Political and Economic Crisis in Russia

This week's In the News examines the tumultuous state of affairs in Russia. The ten resources discussed offer background, news, analysis, and commentary. In recent weeks, political turmoil and economic chaos have severely threatened Russia's stability as an emerging free-market democracy, prompting regional governor and former general Alexander Lebed to say that "the situation in Russia is catastrophic--worse than in 1917." Russia's latest political upheaval began on August 23 when the unpredictable President Boris Yeltsin discharged his prime minister, Sergei Kiriyenko, and reinstalled the previous prime minister, Viktor Chernomyrdin (see the April 7, 1998 Scout Report for Social Sciences). Chernomyrdin plans to create an "economic dictatorship" in Russia and to print billions of rubles to avoid total economic collapse. Yesterday, in an approval ballot to reinstate Chernomyrdin as prime minister, the Duma rejected his appointment for the second time in two weeks. Analysts predict that next week a subsequent ballot for approval will fail, the Duma will dissolve, and Yeltsin will rule by decree, without a functioning government, until new parliamentary elections are held. Russian political dissension has been induced by the country's severe financial crisis. On September 6, the Russia economy suffered a blow when the European Union decided not to offer money to Russia and spurned a moratorium on debts Russia owes to EU members. Today in another setback, chairman of the central bank, Sergei Dubinin, tendered his resignation. These events, compounded by ruble devaluation, limited tax revenue, and skittish foreign investments, have left the economy in shambles, despite the recent receipt of an enormous loan from the International Monetary Fund (discussed in the July 16, 1998 Scout Report for Business & Economics).
Alternate Title
In The News: Political and Economic Crisis in Russia
Archived Scout Publication URL
Creator
Date Issued
1998
Language
Date of Scout Publication
September 8th, 1998
Date Of Record Creation
April 7th, 2003 at 1:20pm
Date Of Record Release
April 7th, 2003 at 1:20pm
Resource URL Clicks
3

Internal

Cumulative Rating
0
Add Comment

Comments

(no comments available yet)