Project Capitalism

From his 20th-floor office in the glass skyscraper that just two years ago housed the headquarters of Comecon, the Soviet bloc's trade organization, Jean Foglizzo looks out over the Moscow River and the southwest side of Russia's capital. For Foglizzo, 47, the first-ever representative of the International Monetary Fund in Russia, the commanding view is a fine vantage point for pondering his task: the most difficult economic restructuring of all time. "We are facing chaos in the Biblical sense," he says. "There is nothing, and you have to organize. You have more than seven days to do it, but not that much."

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