IBRD, ICAO, ICC, ICFTU, ICRM, IDA,
IFC, IFRCS, IHO, ILO, IMF, IMO, Inmarsat, Intelsat, Interpol, IOC,
IOM (observer), ISO, ITU, LAIA (observer), MINURSO, MONUC, NAM
(guest), NSG, OAS (observer), OPCW, OSCE, PCA, PFP, UN, UN Security
Council, UNAMSIL, UNCTAD, UNESCO, UNHCR, UNIDO, UNIKOM, UNITAR,
UNMEE, UNMIBH, UNMIK, UNMOP, UNOMIG, UNTAET, UNTSO, UPU, WFTU, WHO,
WIPO, WMO, WToO, WTrO (observer), ZC

Diplomatic representation in the US: chief of mission: Ambassador
Yuriy Viktorovich USHAKOV

chancery: 2650 Wisconsin Avenue NW, Washington, DC 20007

telephone: [1] (202) 298-5700, 5701, 5704, 5708

FAX: [1] (202) 298-5735

consulate(s) general: New York, San Francisco, and Seattle

Diplomatic representation from the US: chief of mission: Ambassador
James F. COLLINS

embassy: Novinskiy Bul'var 19/23, 121099 Moscow

mailing address: APO AE 09721

telephone: [7] (095) 728-5000

FAX: [7] (095) 728-5203

consulate(s) general: Saint Petersburg, Vladivostok, Yekaterinburg

Flag description: three equal horizontal bands of white (top), blue,
and red

Russia Economy

Economy - overview: A decade after the implosion of the Soviet Union
in 1991, Russia is still struggling to establish a modern market
economy and achieve strong economic growth. In contrast to its
trading partners in Central Europe - which were able to overcome the
initial production declines that accompanied the launch of market
reforms within three to five years - Russia saw its economy contract
for five years, as the executive and legislature dithered over the
implementation of many of the basic foundations of a market economy.
Russia achieved a slight recovery in 1997, but the government's
stubborn budget deficits and the country's poor business climate
made it vulnerable when the global financial crisis swept through in
1998. The crisis culminated in the August depreciation of the ruble,
a debt default by the government, and a sharp deterioration in
living standards for most of the population. The economy rebounded
in 1999 and 2000, buoyed by the competitive boost from the weak
ruble and a surging trade surplus fueled by rising world oil prices.
This recovery, along with a renewed government effort in 2000 to
advance lagging structural reforms, have raised business and
investor confidence over Russia's prospects in its second decade of
transition. Yet serious problems persist. Russia remains heavily
dependent on exports of co