search query: @indexterm GOLD / total: 48
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| Author: | Godek, L. |
| Title: | The state of the Russian gold industry |
| Journal: | Europe-Asia Studies
1994 : VOL. 46:5, p. 757-777 |
| Index terms: | ECONOMICS RUSSIA GOLD |
| Language: | eng |
| Abstract: | Estimates of Soviet gold reserves have been central to Western policy makers' plans for aiding the transitional Soviet and post-Soviet economies. In the past, the West felt secure in issuing loans to the faltering Soviet economy, believing they would be backed by vast stockpiles of gold. However, Western estimates of existing gold reserves far exceeded actual figures as revealed by Grigorii Yavlinsky, then Gorbachev's economic adviser, at an IMF-World Bank meeting in September 1991. This revelation has resulted in grave concern for policy makers in the West over the security of both loans already issued and any proposed future loans. |
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