Paris Club close to deal on Russian debt
Known for his commentary on international relations and US politics, Rupert Cornwell also contributes obituaries and occasionally even a column for the sports pages. With The Independent since its launch in 1986, he was the paper's first Moscow correspondent - covering the collapse of the Soviet Union – during which time he won two British Press Awards. Previously a foreign correspondent for the Financial Times and Reuters, he has also been a diplomatic correspondent, leader writer and columnist, and has served as Washington bureau editor. In 1983 he published God's Banker, about Roberto Calvi, the Italian banker found hanging from Blackfriars Bridge.
Wednesday 24 April 1996
They also accept that Moscow is pushing through the economic reforms it agreed as the price for a $10bn (pounds 6.6bn) loan from the International Monetary Fund last month.
Speaking during the IMF and World Bank spring meetings, which concluded in Washington yesterday, Vladimir Panskov, the Russian finance minister, said he had won support from US Treasury secretary Robert Rubin for a long-term rescheduling of the $45bn owed to the rich nations grouped in the so-called "Paris Club". The Club could give final approval as early as this week.
Remaining obstacles were apparently removed by assurances from Mr Panskov and Sergei Dubinin, president of the Russian central bank, over progress of Russia's implementation of the free market reforms. It had been widely feared President Yeltsin would abandon the politically painful plan ahead of elections this summer.
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