1. Russain Currency Crash In August 1997
... food or medicine. There had been a growing opinion among Russian politicians that Russia's current problems were the result of the IMF and western advice on privatization and budgetary severity. They rejected the IMF's insistence on higher taxes and lower spending as being impractical, and feel little need to ... source of financial instability. Budget deficits must be kept small. Central banks must be allowed to go about their work unmolested. If you give complete freedom to business managers to produce goods and sell them to anyone they will produce more. If you make the tax only one ...
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