Russias Economic Crisis In November of 1997 markets fall general, marking the beginning of the worldwide economic recession. On March 23, 1998 Yeltsin sacked his Prime minister of religion Viktor Chernomyrdin and replaced him with not so well known Kiriyenko, the aught minister to Viktor Chernomyrdin. May 12, 1998 coal workers strike over unpaid wages. They break the Trans-Siberian railway. This turns foreign investors off. Stock prices fall in the same calendar month after the passing of a law calling for the remotion of all foreign investment in Russias largest energy company.
The IMF pulls back aid, claiming that the government wasnt doing enough to collect taskes. On June 15, Russia asked for more aid from the IMF to stave off financial collapse. after(prenominal) Yeltsin and the Duma fail to compromise on an anti-crisis tax package, property tax was raised. On August 14, Yeltsin reclaims that the ruble will not be devaluated. Three days later Yeltsin de...If you want to get a full essay, order it on our website:
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