Soviet International Finance in the Gorbachev Era

摘要

This report was originally intended as a simple portrait of Soviet internationalfinancial practice: what kinds of international financial transactions the Soviet Union undertakes and who the counterparties to these transactions are. Since work began on this report in late 1989, though, the international financial circumstances of the Soviet Union have changed in important ways. In particular, the Soviet Union has gone from a first-class borrower, able to get the finest of terms in international credit markets, to what markets now perceive as a serious credit risk, able to borrow only with guarantees from Western governments. In addition to providing a profile of Soviet international financial activity, this report has necessarily also become a short history of the Soviet Union's reversal of financial for tunes.