A leading Russian economic minister met this week with a team of American public finance executives, hoping to reinvigorate a plan to bring municipal bond finance to the former Soviet Union.

Andrej Shapovaljants, a first deputy minister in Russia's Ministry of Economics, met Tuesday in New York City with officials from the public finance departments at Goldman, Sachs & Co. and Lehman Brothers, as well as an international investment banker at Salomon Brothers, to update them on the status of the project. The minister reiterated his country's intentions of introducing municipal-type securities into the Russian marketplace.

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