TY - BOOK AU - Christensen,Benedicte Vibe TI - The Russian Federation in transition: external developments T2 - IMF Working Papers; Working Paper SN - 1557753717 SN - 0251-6365 AV - HF1558.2 .C47 1994 PY - 1994/// CY - Washington, D.C PB - IMF KW - Russia (Federation) KW - Foreign economic relations KW - Soviet Union KW - Foreign relations KW - Former Soviet republics KW - Economic policy KW - 1991- KW - 1986-1991 N1 - BIB N2 - This paper discusses Russia's balance of payments developments in recent years: the initial macroeconomic imbalances and systemic shocks which set the stage for the critical balance of payments difficulties Russia faced in the early 1990s; the lessons from the early phases of Russia's economic reforms; the choices faced by the Russian Government and the international community in supporting the government's reform efforts; and the external debt situation. This analysis also points to external adjustment issues which Russia will face in the period ahead, including the potential for an early reversal of the export decline and the nature of external financing and debt problems ER -