The IMF and the Ruble Area, 1991-93 J.C.C. Odling-Smee

ISBN: 9786613783547

Published: August 1st 2001


51 pages


The IMF and the Ruble Area, 1991-93  by  J.C.C. Odling-Smee

The IMF and the Ruble Area, 1991-93 by J.C.C. Odling-Smee
August 1st 2001 | ebook | PDF, EPUB, FB2, DjVu, AUDIO, mp3, RTF | 51 pages | ISBN: 9786613783547 | 6.50 Mb

This paper summarizes the IMF advice on the ruble area as it was presented to the national authorities in Russia, the Baltic countries, and other states of the former Soviet Union in 1991-93. In the course of doing so, the paper corrects some misperceptions that have arisen about the IMFs role. The evidence presented in the paper suggests that (i) the balance of arguments on the ruble area (and national currencies) changed over time, and hence so did the IMFs advice, and (ii) from the beginning, the IMF staff concentrated on pointing out the pros and cons of alternative monetary arrangements, without strongly advocating a particular one, emphasizing that it was the authorities decision to stay in or leave the ruble area.

Fund advice on how to introduce national currencies was made readily available to the various national authorities as early as January 1992.

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