Economic woes rain on parade in Moscow

Russia's economic crisis continues

Russia's economic crisis continues. Even the St Patrick's Day parade, an annual event in Moscow since 1992, has been cancelled this year. But one thing has not changed. President Yeltsin, confined to hospital with what his aides describe as "a bleeding ulcer", has been indulging in his favourite pastime, political intrigue.

Leading political figures have been summoned to his bedside at Moscow's Central Clinical Hospital in a pointed series of meetings through which Mr Yeltsin has injected an extra dose of instability in an already unstable country.

Giving the message to all concerned that he is considering one of his series of "surprise" sackings, Mr Yeltsin called in liberal leader Mr Grigory Yavlinsky and chairman of the upper house of parliament Mr Yegor Stroyev for talks.

In the only bright development for some time, finance ministry officials claimed yesterday that talks with the International Monetary Fund were going well and that an aid package could be in place by the end of the month.

READ MORE

In the meantime, so many Irish have left Moscow since the financial crisis last August that the St Patrick's Day parade has been cancelled.

Seamus Martin

Seamus Martin

Seamus Martin is a former international editor and Moscow correspondent for The Irish Times