$10bn loan for Russia agreed

MOSCOW - The Russian President, Mr Boris Yeltsin received a large helping hand from the West yesterday when the International Monetary Fund agreed to a loan of just over $10 billion to Russia, unveiling the details on the eve of his "state of the nation" address. The IMF's managing director, Mr Michel Camdessus, announced that a deal had been struck which could allow Russia to receive the first instalment as early as mid April two months before the first round of the presidential elections.