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Saturday, November 28, 1998 Published at 16:05 GMT World: Europe Primakov lashes IMF Russia's miners are owed months of back pay Russian Prime Minister Yevgeny Primakov has lashed out at the IMF saying he is tired of being dictated to by "delegations of young boys'' who have read lots of books, but know nothing about Russia.
Mr Primakov warned that his country faced spiralling inflation if the money was not released. He said Russia desperately needed the next $8bn slice to enable the country to pay off its debts and stimulate the economy.
''I get irritated when delegations of young lads come here who have seen almost nothing of life, '' Mr Primakov said. ''They have ready lots of books. That is fine. But at the same time, having had no experience of life and not knowing the conditions of the country, they begin to dictate various schemes for our development.'' Threat to print money Mr Primakov has heavily criticised the tight monetary policies followed by his predecessors and endorsed by western financial institutions.
The Russian Government, on the verge of bankruptcy, is not in a strong bargaining position. But BBC Moscow correspondent Andrew Harding says Mr Primakov is clearly hoping to force every possible concession out of the IMF whose director Michel Camdessus arrives in Moscow next week. Mr Primakov even made a thinly veiled threat to turn on the printing presses and push Russia into a hyper-inflationary spiral if the western loans were not forthcoming. Our correspondent says Mr Primakov's tactics may not impress the IMF, but are sure to win him strong support among Conservative and Communist forces in the Russian parliament.
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