Russia and the IMF

Russia's economic crisis in the summer of 1998 has renewed debate as to whe ther the International Monetary Fund (IMF) has helped, hindered or been irr elevant to economic transition in the core of the former Soviet Union. The authors examine the relationship between the Fund and Russia over the past ten years, highlighting a mixed record of successes, failures and the limit s of the Fund's role. They argue that the institution may well have also in advertently facilitated the rise of political forces which are today oppose d to the second phase of reforms which Russia so desperately needs. In conc lusion, the authors question whether the IMF ought to continue to lead West ern attempts to foster stability and growth in Russia.