As Russia wrestles with crises on all fronts, its new leaders are facing the question of whether the nation can survive without the International Monetary Fund. The latest alternatives boil down to a stark choice. The amount of requested aid has fallen, while the ruble emission figure keeps rising, in a sign of the slide in both Russia's hopes and finances. Now, with a national strike set for Wednesday and the worst harvest in 43 years, Russia's numbers have failed to add up.
Most economists say yes.
They've survived before. Goldman believes that Russia is entering a dark period that may last for two years or more. Printing rubles to pay wages seems certain to explode inflation, driving the government to impose price controls. Shortages would follow quickly as incentives disappear. But the government could limp along financially, if it can maintain political power.