The Russian Ruble crisis Assignment Example | Topics and Well Written Essays - 250 words

The Russian Ruble crisis - Assignment ExampleOne, the economic hardships in Russia at the time had interpreted a political dimension. This derailed the governments course to adhere to the targets set by IMF. Two, the tax system in Russia was so complicated to be align with the IMF requirements. Three, increasing public debts made it harder for the Russian government to implement IMFs demands. Finally, the Russian government had other economic hardships that awaited its attention among them persistent swelling and critically low ruble value.Russias tax cuts and increased government revenue had been deemed unachievable for quite some time. The early 2000s move and subsequent results turn up otherwise. Reduced tax rates translated to increased government revenue. This was the case because individual and corporate tax payers considered compliance to be cheaper than evading tax payment. This realization did not cogitate that policy prescriptions by IMF were wrong. Rather, the Russian g overnment took action with regard to its situation subject to having parted ways with the