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World Bank suspends talks to aid USSR
WASHINGTON. Jan 26 The World Bank has said all discussions with Soviet Union on technical assistance have been suspended following the Moscow's use of force to crush independence movements in the Baltic states, reports I’ll
The World Bank s ac tion was in the form of Conable's dcdlsion made last week but revealed only on Wednesday to cancel to discuss details of the bank's council meeting that was scheduled to discuss details of the bank s plans to offer technical aid tq the Soviet economy
The announcement by World Bank President Barber Conable is the latest tn a series of steps by western govern-
tutlons to drive home dispka sure with the Soviet Union s use of troops in the Baltics by withholding food shipments and suspending plans to prop up the economy". the Washington Post said.
The western nation’s decision was announced by Treasury Secretary Nicholas F. Brady, who said that the G-7 had put the whole question of aid to the Soviet Union on hold'
Though the World Bank is an Independent organisation immune to political pressures, the western' powers enjoy enourmous influence by virtue of the weighted voting system in the Bank which gives them a dominant voice
Reuter adds from Moscow . People in Moscow and the giant Russian Republic on Friday were given another week to change money belns withdrawn from circulation at the order of Soviet President Mikhail Gorbachev
The Russian Federation Parliament and Moscow City Council voted to extend the deadline set for Friday to February 1 for conversion of 100 and 50 rouble notes to smaller denominations.
Panic over the order was easin*. Pensioners who had
queued for hours al banks and ^hamrd old note* for new
Friday.
Twenty minutes Is nothin* We are used to Unes and mday to a nice warm. Sunny day. ' said a retired woman outside a hunk
Anxious customers besetgrei banks on Wednesday and Thursday following Gorbachev s announcement on Tuesday that the high denona nation notes were being withdrawn from circulation
The abrupt measure was meant to curb Inflation and crimp the pervasive bia< k market Officials said many of the 100 and 50 rouble notes were smuggled abroad by the Soviet mafia
Alexander Gurov, head of the Interior Ministry s Organised Crime Department, told Soviet television the mafia had about 12 billion Roubles abroad in 50 and 100-Rotible denominations.
The decree allowed people to exchange notes equivalent to one month * salary UP ,o • maximum of 1.000 Roubles. Ilie average monthly salary is about 250 Roubles (450 Dollars at the Inflated official exchange rate).