Where Should Economic Reforms Go From Here?
A Commentary By John Odling-Smee, Director, European II Department, IMF and Poul M. Thomsen, IMF Senior Resident Representative in Moscow Vedomosti April 15, 2002 As President Putin approaches the half-way mark of his current term in office, observers have been taking stock of his administration’s record of economic reforms. As always when it comes to Russia, the pendulum of public opinion swings wide and fast. From disappointment less than a year ago about Putin’s perceived failure to capitalize on a landslide election victory, to enthusiasm about achievements following a flurry of activity last summer and fall, to renewed skepticism in recent months. There are even reports that Putin himself has asked his advisors to come up with a bolder strategy before his upcoming state-of-the-nation address. In this regard, there are calls for renewed experiments with state intervention. Based on a snapshot of the economy, pessimists can indeed find much to support their views-a crumbling infrast
