Valiable Solution for Russia Not in Sight

Foreign indebtedness of Eastern countries has increased by about $ 12 billion in 1992 to a level of $ 195 billion. While remaining broadly unchanged in the countries of East Central Europe ($ 78 billion) it rose strongly in South Eastern Europe (37 billion) and even more in the successor states of the USSR (to around 80 billion). Western banks reduced markedly their non-guaranteed loans to Eastern countries and the burden of additional financing of the East has shifted towards Western governments and international financial institutions.