Eastern Europe, Caucasus and Central Asia, Europe, Financial sector, FSU, CASE Reports, CASE Network Studies and Analyses

The Reasons of the Collapse of the Ruble Zone


The existence and collapse of the common ruble area on the territory of the former Soviet Union (FSU) in 1992-1993, i.e. already after the dissolution of the Soviet state, raised a lot of discussions and controversies among the politicians and experts both inside and outside FSU. In the very beginning of the post-Soviet economic transition quite a lot of people and institutions (including the International Monetary Fund) believed in the possibility to maintain the common currency working for all or at least for part of FSU countries.