A devaluation makes no sense. |
I don't see much substance [in the G7 announcement] but if the aid package to Brazil is bigger than people are expecting, say $40 billion, then that will boost the markets. |
The government is unable to collect taxes and control the borrowing requirement and is making only limited progress in the rest of the economy and on privatization to generate revenue. |
The only precise estimate that can be made is that it will be between 6 rubles and 20,000 rubles. The sky is the limit as to how high the ruble can go. |