Social Sciences
5 years ago

IMF's Impact on Russia's Economic Policies: Modest Influence, Positive on Monetary Policy

IMF Working Paper
The IMF and Russia in the 1990's
John Odling‐Smee

Paper Summary

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The IMF had a limited impact on Russia's economic policies in the 1990s. While it didn't have much influence on fiscal policy or major reforms, it did help improve monetary policy. Tougher fiscal policies during 1996-98 could have led to better outcomes. The G-7's concerns weakened the IMF, but it did play a significant role in sharing knowledge about macroeconomic policies.