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Russia: Moscow's Envoy To IMF To Quit

Moscow, 2 September 1999 (RFE/RL) - Russian news agencies today quote Mikhail Zadornov, Russia's special envoy to international financial organizations, as saying he would resign following the completion of the current round of talks with the International Monetary Fund. Agencies quote Zadornov as saying he has successfully completed negotiations with the IMF and now wants to become a candidate in a December 19 parliamentary election for the liberal Yabloko party. At a news conference later in Moscow, Zadornov said Russia had not misused IMF funds, rejecting media reports that some of the money had been illegally channelled abroad. He said he saw no reason for new fund loans to be delayed by current investigations into money laundering and the previous use of IMF money. According to Zadornov, the money Russia received from the IMF had been used only to pay off foreign debt or plug gaps in the federal budget. He said he did not know what all the media fuss was about.

Russia and the IMF agreed on a $4.5 billion package of loans to be used to pay back Moscow's previous borrowings from the IMF. The first tranche of more than $600 million has been disbursed and the IMF delegation, currently in Moscow, has been checking on conditions for further payments.