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RUSSIA: IMF VISIT: NEW LOAN TALKS

(29 Mar 1999) Russian/Eng/Nat The International Monetary Fund or I-M-F has agreed in principle to a loan that the Russian government has been trying to secure for months. Prime Minister Yevgeny Primakov made the announcement after three hours of talks with visiting I-M-F chief Michel Camdessus. Neither would say how much the loan would be worth. Talks between the International Monetary Fund (I-M-F) and Russia ended on Monday with good news for Moscow. Russian Prime Minister Yevgeny Primakov said the I-M-F has agreed to give Russia a loan after months of on and off talks. Primakov made the announcement after holding talks with visiting I-M-F chief Michel Camdessus. Primakov said an I-M-F mission was due in Moscow next week to work on a joint policy statement to be signed by the Russian government and the Central Bank. The statement will be presented to the I-M-F board of directors for approval as early as April 24. The first installment of any loan is to follow soon after. SOUNDBITE: (Russian) "I can say we have agreed to cooperate. We have agreed that we will be given credit. We agreed a full mission will arrive next week to finalise preparation of the document." SUPER CAPTION: Yevgeny Primakov, Russian Prime Minister Russian officials have said they were asking for eight (b) billion dollars to help pay off the country's massive foreign debts. Camdessus confirmed that a deal had been made but said he wasn't prepared to discuss any figures yet. Some Russian officials have said the amount was likely to be less than what was asked for. But Camdessus and Primakov parted on friendly notes. SOUNDBITE: (English) "I totally agree with him. I want only to add my thanks for the warm hospitality and all the friends I have made during my stay in Moscow" SUPER CAPTION: Michel Camdessus, I-M-F chief The I-M-F suspended its loan programme to Russia after the country's financial crash last August, when the rouble tumbled and the government defaulted on some of its debts. It has been critical of a number of government economic policies, and it wants the government to reform the state-run energy monopolies, making their operations more transparent. Meanwhile, the Russian government on Monday set a five-thousand U-S dollar limit on the amount of hard currency Russian citizens can take out of the country legally. Prior to the regulation, Russian citizens could take out virtually unlimited amounts of hard currency. Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter:   / ap_archive   Facebook:   / aparchives   ​​ Instagram:   / apnews   You can license this story through AP Archive: http://www.aparchive.com/metadata/you...

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