Russian Crisis

The Russian Crisis On July 13, 1998 the Managing Director of the International Monetary fund (IMF), Michael Camdessus said, “The IMF team currently in Moscow has reached an agreement with the Government of Russia on a major strengthening of Russian economic programs (“IMF Board”). In the agreement between the two, Russia was to receive a 22.6 billion-dollar bailout package to help their economic crisis. The Russian Government was to submit an economic plan to cope with the crisis, …

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