The President suggested discussing possible cooperation between Russia and the IMF now that Russia has given up the practice of taking loans from the Fund and the possibilities of Russian participation in the IMF programmes in the republics of the former USSR.
Horst Koehler congratulated the President on the macroeconomic performance of the country stressing that Russia was “a ray of light” against the overall background of the world economy. He also noted Russia’s role in cooperation with the Central Asian countries.
During the talk the President stressed that the Russian Central Bank was pursuing a balanced policy regarding the exchange rate of the rouble although IMF specialists thought otherwise. The Central Bank, Vladimir Putin noted, proceeded from the real situation in the country.
The Yukos case was discussed during the meeting. In the opinion of the Russian head of state, the fact that some Yukos executives had violated the law must be proved in the law court. Until the trial is held all these people are innocent.
Vladimir Putin assured Horst Koehler that there would be no de-privatisation in Russia, that no steps would be taken to revise the results of privatisation, and that the application of the law in the case of Yukos was not selective.