CIAO DATE: 08/01

Russian Financial Crisis Assessment 1

Abstract

Russian capital markets were already in what George Soros described as a "financial meltdown in . . . its terminal phase" on August 12^th. Since then, capital markets have deteriorated significantly in reaction to measures announced by the Russian Government on Monday, Aug. 17^th (summarized in Section II below). IEWS is actively evaluating the nature and extent of the crisis and trying to project its likely course.

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