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Disintegration of Soviet Union has led Russia and other republics almost to the brink of bankruptcy. What is the situation there now? Are they better of now than they were under the oppressive Soviet rule once? Your views?

Asked by Good Citizen, 01 Aug '10 07:49 pm
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The republics in northern caucasus are rich in oil, coal, natural gas, gold and many other natural resources. The Central asian republics of kazakhstan, Turkmenistan and Usbekistan are having huge oil reserves, just like as in kuwait. However, natural resource abundance couldnot result in economic prosperity among caucasian republics for a variety of reasons. In 2000, Kazakhstan became the first former soviet republic to repay all of its debts to the IMF, seven years ahead od schedule, thanks to her Oil revenue and expoer earnings from Uranium,and agricultural produce. the economy of Kazakhstan is booming. But despite rich oil reserves and a backing by the IMF, World bank and the ADB, kyrgystan has had economin difficulties since independence and ranks as the second poorest country in Central Asia.Its economy was severely affected by the collapse of the USSR as 98% of the kyrgs ' expoerts were to other republics in the USSR. Tajikistan continues to be a very poor country as its expo ...more
Answered by thampy chacko, 01 Aug '10 11:26 pm

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