The IMF's involvement in Russia came about as the result of
A)a sharp increase in the value of the Russian rouble.
B)a persistent decline in the value of the Russian rouble.
C)high unemployment in Russia.
D)dangerously low inflation in Russia.
E)Russia's oil and gas reserves

Question

Quizplus · Accepted Answer

The IMF's involvement in Russia came about as the result of a persistent decline in the value of the Russian rouble. In 1998, Russia experienced a financial crisis due to a sharp decline in oil prices, a drop in confidence from foreign investors, and widespread corruption. This led to a devaluation of the rouble, causing the government to default on its debts and triggering a severe economic recession. The IMF provided financial assistance to help stabilize the economy and prevent a complete collapse.

The IMF's Involvement in Russia Came About as the Result