`The Reforms Have Lost'

Russians have long been unhappy with the rampant inflation and increased crime that have accompanied the dismantling of the Soviet Union. But few outsiders understood just how disillusioned they were until the results started coming in from the Dec. 12 parliamentary elections. Voters seem to have approved Boris N. Yeltsin's new constitution, but they also blasted his reform program by giving Vladimir V. Zhirinovsky's scary, ultranationalist Liberal Democratic party more votes than any of the other 12 parties running. "The reforms have lost," says economic adviser Anders Aslund, summing up the gloom in Yeltsin's camp. "This is a big loss."

To continue reading this article you must be a Bloomberg Professional Service Subscriber.