WASHINGTON (AP) -- Russian Prime Minister Yevgeny Primakov will meet soon with the head of the International Monetary Fund to discuss the next installment of $22 billion in loans, an IMF spokeswoman said Tuesday.
The spokeswoman said there was no decision on when the meeting would take place, but she confirmed that Primakov spoke by telephone with IMF managing director Michel Camdessus from Shannon, Ireland, where the Russian leader's plane landed for refueling on his way back to Moscow.Primakov abruptly postponed a trip to Washington during which he planned loan negotiations with the IMF after learning of an unsuccessful diplomatic efforts to resolve the Kosovo crisis.
The Russians are seeking an urgent resumption of IMF lending as they face $17.5 billion in debt repayments this year, including $4 billion they owe the monetary institution.
The IMF spokeswoman, speaking on condition of anonymity, said Camdessus and Primakov agreed they should meet as soon as possible.
The IMF is demanding that Primakov abandon tax cut proposals and instead focus on boosting revenues and slashing spending to establish a credible economic plan.
Last year, Russia received a $4.8 billion loan from the IMF under a $22 billion assistance program but further installments were suspended after Russia defaulted on its foreign debt and devalued the ruble.