MOSCOW (AP) -- International Monetary Fund chief Michel Camdessus spoke with President Boris Yeltsin Monday and promised "good news" for Russia, which is urgently seeking new loans to keep its economy afloat.
Russian officials have said they would like a loan of $8 billion to help pay off the country's massive foreign debts. But Camdessus said he wasn't prepared to discuss any figures yet, and other Russian officials have said the amount was likely to be less.Russian negotiators say they are close to an agreement with the IMF, and they expect an IMF team to come to Russia following Camdessus' visit to finalize the details. If the fund announces plans for a mission to visit, it would be seen as a sign that a deal is likely.
Camdessus, who arrived in Russia on Saturday, had a telephone conversation with Yeltsin Monday.
Yeltsin "expressed hope that Camdessus's trip to Moscow and his meetings will help accelerate reaching an agreement with the IMF," said presidential spokesman Dmitry Yakushkin.
Camdessus promised "good news for Russia," but did not elaborate.
The IMF suspended its loan program to Russia after the country's financial crash last August, which has seen the ruble tumble and the government default on some of its debts.
Russian Prime Minister Yevgeny Primakov had been scheduled to meet with Camdessus in Washington last week, but he canceled the trip in midair after learning that the NATO airstrikes on Yugoslavia were imminent. Russia strongly opposes the raids.
Camdessus then agreed to come to Moscow. He said Sunday on Russian television that his talks had not be affected by the rift between Russia and the West over the bombings.
The IMF has been critical of a number of government economic policies, and it wants the government to reform the state-run energy monopolies, making them more transparent.
Camdessus met with leaders of parliamentary factions in the lower house, the State Duma dominated by Communists and other hard-liners. During the meeting, Communist Party chief Gennady Zyuganov accused Camdessus of "twisting the government's arms" by setting "totally unrealistic conditions" for the loan, the Interfax news agency reported.
The IMF should either reach a loan agreement with the current government or "be prepared for a military or criminal government in the future," Zyuganov said.
Zyuganov said that he expects the IMF to give Russia a loan of $4 billion to $5 billion.