ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

A+| A| A-

Walking the Economic Tight-Rope-Challenge before Russia s New Prime Minister

Russia ended with the appointment of Yevgeny Primakov as prime minister on September 11. The political deadlock compounded by the collapse of the financial system was driving the country to ruin. At one stage analysts worried about possible unrest on a scale seen in Albania and Indonesia. It weakened Boris Yeltsin, the president, who was forced to make unprecedented concessions to the communist- dominated Duma, including withdrawing his first choice for premier, former prime minister Victor Chernomyrdin. The new prime minister now faces the toughest task of his life pulling Russia out of a deep economic crisis. This very mission has doomed Russia's last two prime ministers. He also has to forge political co-operation to tackle Russia's economic fiasco. Unless he can hold the political strings together, implementation of economic recovery programmes will not be easy. Although a competent administrator he has no formal business training and lacks experience in the private sector of a market economy. His success will therefore depend heavily on the team that is entrusted with economic policy. If his career graph is any indication then one can depend on him to show results as he is very experienced and his expertise lies in his diplomacy; besides he is an old fox in the political arena.

Dear Reader,

To continue reading, become a subscriber.

Explore our attractive subscription offers.

Click here

Back to Top