The Russian Ruble crisis Assignment Example | Topics and Well Written Essays - 250 words

The Russian Ruble crisis - Assignment ExampleOne, the economic hardships in Russia at the time had taken a political dimension. This derailed the establishments course to adhere to the targets treated by IMF. Two, the assess system in Russia was so complicated to be aligned with the IMF requirements. Three, increasing usual debts made it harder for the Russian government to implement IMFs demands. Finally, the Russian government had other economic hardships that await its attention among them persistent inflation and critically low ruble value.Russias task cuts and increased government revenue had been deemed unachievable for quite some time. The early 2000s move and subsequent results proved otherwise. Reduced tax rates translated to increased government revenue. This was the case because individual and corporate tax payers considered compliance to be cheaper than evading tax payment. This realization did not mean that policy prescriptions by IMF were wrong. Rather, the Russia n government took action with regard to its speckle subject to having parted ways with the