Russia Trip Jude Wanniski January 24, 1992

David Goldman and I will be traveling to Moscow tomorrow, Saturday afternoon, for meetings with the Finance Ministry, Central Bank, etc., the first working sessions of our Russian Federation Project. We will not be back until Thursday and as a result will miss the Superbowl. We will also miss the G-7 Meeting and the State of the Union speech. So don't expect any missives from Polyconomics in the next few days. (As The Wall Street Journal reported this morning, the one last big push for a 15% capgains tax, which we told you about last week, has apparently succeeded. We even hear Richard Darman swung behind the idea.) On the Russia Project, I've decided it is time to stop beating up the IMF, as the IMF is now going to be responsible for making things work, and needs our help. I've called the top U.S. reps at the IMF and briefed them on what we are doing, and they seemed genuinely pleased. I've also briefed Paul Volcker, who has been asked by the Yeltsin Government to offer suggestions; he's going to Moscow next month to look things over. He asked me where to stay. The Olympia Penta is the only place, although he cringed when I told him the rate is $300 a night. I cringe too. But it's the only place in town I've found with shower curtains.