08/17/1998 08:23:23 IMF's Odling-Smee arrives in Moscow

MOSCOW, Aug 17 (Reuters) - The International Monetary Fund's senior Russia official John-Odling Smee has arrived in Moscow for talks with senior Russian officials, the IMF's Moscow office said on Monday. Odling-Smee, head of the IMF's Second European Department that deals with the former Soviet Union, arrived late on Sunday. No details of his programme were immediately available. Russia's government and central bank announced drastic changes in monetary policy on Monday, allowing the rouble to float freely, effectively devaluing the currency in response to intense pressure from financial markets. The IMF approved $11.2 billion in new credits for Russia last month, part of an overall international credit package worth $22.6 billion until the end of next year. ((Moscow Newsroom, +7095 941-8520 moscow.newsroom@reuters.com))