• ACI Russia

08/22/1998 15:08:24 Yeltsin, Kohl have telephone conversation

MOSCOW, Aug 22 (Reuters) - Russian President Boris Yeltsin

had a telephone conversation with German Chancellor Helmut Kohl

on Saturday, the Kremlin press service said without giving


Kohl said on Friday in Bonn he planned a "very extensive"

conversation with Yeltsin to urge him to press ahead with reform

of the crisis-hit Russian economy, without which there could be

no more financial aid from the International Monetary Fund.

The German stock market fell on concern about Russia on

Friday after Prime Minister Sergei Kiriyenko told parliament the

country's crisis had only just begun.

Russia is due to unveil a debt restructuring plan on Monday,

converting an estimated $40 billion worth of short-term debt

into longer-term paper. Foreign investors fear the plan will

favour Russians at the expense of foreigners.

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