On March 14, 2001, the State Duma, on the initiative of Alexander Shishlov, member of the Yabloko faction, instructed the Audit Chamber of the RF to conduct an audit of the efficiency and viability of spending in 2000 and the first quarter of 2001 of credits (loans)obtained in accordance with the Programme of the State Foreign Loans of the RF for 2000-2001.

The mass media have repeatedly issued data on the dubious efficiency of the spending of state credits in 2000-2001. For example USD40 million (1.2 bln roubles) had to be allotted to support reforms in the energy sector, USD89 million – to the “projected development of the capital markets”, and another USD40 million to the financing of the development of projects for further crediting by the World Bank. The largest amount – USD100 million had to be allotted to the Pension Fund of the RF for the development and implementation of pension reforms.

Some of the funds have already been spent. It should be noted, however, that thee were mainly spent on “consulting services”, as well as on the purchasing of computers and other equipment for different consulting companies. However, the efficiency of the performance of the aforementioned “consultants” raises many questions.

The results of the votes for assigning the Audit Chamber with this task (as a percentage of the number of factions and as a percentage of the number of votes):

See also:

Russian Duma Rejects Government No-Confidence Motion
By Ron Popeski, Reuters, March 14, 2001

Putin Faces Cabinet Upheaval
St Petersburg Times, #650, Tuesday, March 6, 2001

Declaration on attitude to the Government of Mikhail Kasyanov
The Federal Assembly of the Russian Federation, The State Duma of the Russian Federation, The Yabloko faction, February 20, 2001