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more flexible and informal approach.
The present structure
only serves to increase public expectations which cannot be met
and require us to strive for initiatives merely in order to
prevent the appearance of failure.
Response to Russia
At the G7 Foreign and Finance Ministers meeting in Tokyo in
April the Americans put forward a proposal for a $4 billion
Special Privatisation/Restructuring Fund. A G7 privatisation programme has now been agreed following detailed discussions, to be financed by bilateral grants, export credit and IFI money. The programme could total up to $2 billion and will run initially until the end of 1994. [Please also refer to the Summit briefing]
An American proposal for a G7 Support Implementation Office was
made at Foreign and Finance Ministers' meeting in Tokyo in
April. The Japanese compromise proposal is closer to arrangements we have proposed for a Group based on Embassies in
Moscow. [Please also refer to the Summit briefing]
The Prime Minister might say:
Agree with you that Special Privatisation and Restructuring Fund ambitious and unrealistic. Believe programme using
bilateral technical assistance, export credits and IFI money
much more realistic. Important not to revert to proposal for
Fund.
--
Proposals for G7 support implementation greatly improved.
Prefer Group to office; more accurate description.
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