(OPE-L) Boris Kagarlitsky on Russian & US economies and politics

From: gerald_a_levy (gerald_a_levy@MSN.COM)
Date: Sun Jun 08 2003 - 07:56:19 EDT

A short opinion piece titled "Bear Market for President" 
from "The Moscow Times" by Boris Kagarlitsky in which he 
discusses the prospects for the Russian and US economies, 
their inter-relationship,  and what the consequence is likely 
to be in terms of Russian politics.  Provocative assessment of 
US post-Iraq War economic strategy re oil prices and the dollar 
and how it will increase Russia's foreign debt.  Of special note 
is the relation of the dollar-euro exchange rate to Russia's 
foreign debt: Kagarlitsky points out that Russia is "paid in dollars 
for its oil but services its debt and pays for a large percentage 
of imported goods in euros"  and cites a presidential economic 
advisor,  Andrei Illarion, as claiming that Russia lost between 
$15 and $17 billion in the last 2 years due to changes in the 
dollar-euro exchange rate.

In solidarity, Jerry

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