Russia's Mess Gets Messier
Russia plunged deeper into economic crisis on May 27 as a series of financial blows rocked markets. The Central Bank tripled interest rates, to 150%, in a bid to reassure investors and head off a run on the ruble. President Boris N. Yeltsin's increasingly desperate administration ordered oil companies to cough up millions of dollars in back taxes. But as analysts called for an international rescue package to stop the rot, the International Monetary Fund was holding up a $670 million payment due to Russia under a $9.4 billion loan.
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