He emphasized that Latvia could provide assistance in this regard, since the country has experience in transitioning from the Soviet ruble
to the Latvian ruble to the lats.
I in fact made it a major concern to explore the problem posed by the divergences of Soviet ruble
prices from 'scarcity values' and that because of such divergences I was led to reject the usual expedient in national income measurement, which is simply to value goods and services produced in terms of prices actually prevailing in the country in question.
Prior to his tenure as Prime Minister, Yushchenko was Ukraine's Central Bank Governor, where he presided over the introduction of a new and stable currency, "the hryvnia," and broke-off Ukraine from the Soviet ruble
After that, only war-torn Tajikistan continued to use the Soviet ruble.
After the July 1993 introduction of Russian banknotes, and declaration that the old Soviet rubles were no longer legal tender in Russia, the options were reduced to having a national currency or using a Russian-managed common currency.
The refusal of Ukraine to liberalize prices alongside Russia in January 1992, and the introduction of the Ukrainian coupon should have been enough to convince anyone, especially IMF experts in Washington, that the survival of the Soviet ruble was dangerous for Russia.
To be sure, rapid de-monetization of Soviet rubles in early 1992 would have created massive political problems.
5 billion at the close of 2012, but more than $20 billion of the debt was in old transferable Soviet rubles
, 90 percent of which Russia forgave in 2013.
5 billion at the close of 2010, but more than $20 billion of the debt was in old transferable Soviet rubles
that Russia now claims but Cuba does not recognize.
Rubles, especially Soviet rubles
, had no foreign exchange value in January 1920, for example, when according to the authors the ledger sheet shows that American journalist John Reed received 1,008,000 rubles in valuables.
According to Russia's Finance Ministry, Havana's debt to the USSR is denominated in transferable rubles, Soviet rubles
and dollars, and hovers around $25.