Mr Yevgeny Primakov, Russia's Prime Minister, yesterday fleshed out his government's evolving economic strategy, saying the main priorities would be to stabilise the rouble "by economic means" and honour all the country's debt obligations. But in a clear sign he would adopt a more interventionist approach than the previous government, Mr Primakov said he intended to reimpose state monopolies on the production and distribution of tobacco and alcohol.

Separately, the central bank said it was finalising a plan to re-establish direct control over an increasing share of exporters' hard currency earnings. It also confirmed it would print money to buy back frozen government debt from domestic banks, injecting liquidity into the banking system.

Some elements of Mr Primakov's programme clearly run counter to the International Monetary Fund's advice that Russia should further liberalise its economy, suggesting there could be some tough talking ahead.

`We have every reason to count on IMF support," Mr Primakov said. "However, we will not accept ultimatums from international organisations and we will follow the path which we regard as best."

Some liberal politicians are already voicing concerns about the drift of Mr Primakov's economic policy. Mr Grigory Yavlinksy, the leader of the Yabloko party, said the new government was exhibiting "very scary symptoms" which prevented his team from joining the cabinet.

Mr Yavlinsky said the decision to put Mr Yuri Maslyukov, a Communist MP, in charge of economic policy and appoint Mr Victor Gerashchenko as head of the central bank threatened to unleash a wave of uncontrollable inflation. He said he did not believe these two men would be strong enough to stop further emissions of money once the printing presses started to roll.

"I am afraid that a `controlled' emission would very soon turn into an uncontrolled rainfall of money," he said, in an interview with the Financial Times.

But Mr Yavlinsky, the first parliamentary leader to back Mr Primakov's candidacy as prime minister, warmly praised the political skills of the 68-year-old former foreign minister, who was overwhelmingly endorsed by parliament a week ago.

"By this nomination we have avoided a disaster," Mr Yavlinsky said. "Russia needed a legitimate public figure who could be some kind of understudy to the president and who could, if necessary, handle presidential elections."