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By Gianni Zanini

This review assesses the advance effectiveness of the area Bank's lending and non-lending tips to the Russian Federation when you consider that 1991, a 10-year interval of tumultuous political, monetary, and social switch. This record concludes that an tips approach, focusing on analytical and advisory providers with constrained monetary help for Russia, could were extra applicable than one regarding huge volumes of adjustment lending.

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Extra info for Assisting Russia's Transition: An Unprecedented Challenge (World Bank Technical Paper)

Example text

The collapse of the Soviet Union in 1991 exacerbated the shifts in relative prices and the disruption of interenterprise linkages. An antiquated payment and legal system, the dismemberment of the ruble zone, and soft budget constraints induced a sharp rise of interenterprise arrears and the spread of barter trade. The Russian Federation (Russia) that emerged in 1991 inherited weak institutions, a complex federal system, and a distorted economic structure dominated by oil and gas, heavy industry, and military production.

Nonpayment study (a version of which was published in Pinto, Drebentsov, and Morozov 2000). A QAG review panel found this study very good on all criteria (relevance, internal quality, presentation, and likely impact). By the time it was presented in 1999, however, Russian economists already had a good understanding of the issue, and the problem of nonpayment was decreasing. 6 billion for 55 projects. On two occasions, responding to worsening portfolio performance, the Bank and the government restructured certain projects.

Nonpayment study (a version of which was published in Pinto, Drebentsov, and Morozov 2000). A QAG review panel found this study very good on all criteria (relevance, internal quality, presentation, and likely impact). By the time it was presented in 1999, however, Russian economists already had a good understanding of the issue, and the problem of nonpayment was decreasing. 6 billion for 55 projects. On two occasions, responding to worsening portfolio performance, the Bank and the government restructured certain projects.

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