A Russian student wearing a gas mask waves a Soviet flag during a rally in the centre of Moscow, October 1998. Around this time, Russia created an emergency food reserve and approved an emergency spending plan that required the central bank to print at least $1.2 billion to help pay wages, support banks, and get food to poorer regions, according to PBS. At the end of the month, the IMF said it wouldn't give Russia the $4.3 billion installment of an aid package and would not resume negotiations until it produced a realistic budget for 1999.