Russia to Attend Emergency G-7 Meeting

THE Japanese government, cool to Moscow because of a land dispute, has agreed to an emergency meeting of industrial powers on propping up Russia's beleaguered economic reforms.

A top representative of Russian President Boris Yeltsin is expected to attend the meeting of the Group of Seven (G-7) industrialized nations, to be held in Hong Kong this weekend, a Japanese official said yesterday.

Tokyo had hoped to put off discussion of the Russian crisis until the annual G-7 summit meeting scheduled for July in Tokyo. Japan has withheld large-scale aid to Moscow because of a dispute over four Russian-held islands, but it is coming under increasing pressure to review that policy as the situation in Russia deteriorates.

G-7 leaders promised a $24 billion aid package for Russia last year, but little money reached Moscow because of its failure to produce an economic restructuring agreement acceptable to the International Monetary Fund.

Without swift financial help, some Western leaders fear President Yeltsin's government could collapse under the weight of the nation's faltering economy and its annual inflation rate of 2,000 percent.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK