俄罗斯

Re-privatising Russia's economy
FT社评:俄罗斯的私有化道路


俄罗斯重启私有化改革,关键在于执行,同时应增强对财产权的保护。为此,必须完善法律体系,切实打消投资者的顾虑。

Russia is desperate to put the “R” back in the Brics. Its membership of the elite quartet was questioned last year when its economy shrank 8 per cent, while Brazil's contraction was barely noticeable and Indian and Chinese output powered ahead. Now Alexei Kudrin, the finance minister, is proposing that Russia should sell minority stakes in 10 state-controlled corporate jewels, including oil company Rosneft, VTB Bank, and the Russian Railways monopoly, totalling perhaps $29bn. It would be Russia's biggest asset sell-off since the botched loans-for-shares privatisations of the 1990s. The government, which may discuss the plan this week, should embrace it. But this time, it also needs to do it right.

俄罗斯正拼命将字母“R”重新放回到“Brics”(金砖四国)里面。去年,人们几乎觉察不到巴西manbetx20客户端下载 的萎缩,manbetx3.0 和印度的产出则出现了强劲增长,而俄罗斯manbetx20客户端下载 则下滑了8%,不禁使人们开始质疑其是否够得上“金砖四国”的资格。目前,俄罗斯财长阿列克谢•库德林(Alexei Kudrin)提议,俄罗斯应出售十大国有控股企业的少数股权,其中包括俄罗斯石油公司(Rosneft)、VTB银行(Bank VTB)、垄断企业俄罗斯国有铁路公司(Russian Railways)等等,这些股权总价值或许高达290亿美元。这可能会成为上世纪90年代俄罗斯拙劣的“贷款换股权”私有化方案以来,规模最大的一次资产出售。本周可能会讨论这一计划的俄罗斯政府,应该采纳这一提议。但这一次,它还需要正确地实施。

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