Activities and affiliations

Economy, finance and planning Russian Federation state institutions 1932–2016 ○ Natural causes

The Soviet banker who testified about reform's hidden origins

He later recalled that the 1991 reform had originated with the KGB and Kryuchkov.

Arnold Voylukov was a senior Soviet banker who experienced the inner workings of late Soviet monetary administration. He matters not only as an official in the institution that carried out the January 1991 currency reform, but also as a memoirist who later said that the idea came from the KGB and Vladimir Kryuchkov rather than from the Finance Ministry or Valentin Pavlov. His account illuminates the institutional tensions around the reform and how a covertly prepared measure damaged public trust.

Economy, finance and planning Russian Federation state institutions 1956–2009 ○ Heart attack

Architect of shock therapy, the economist who dismantled the planned economy and laid the first stones of Russian capitalism

3 October 1993, live on television: "At this hour we cannot rely only on police and security forces. Muscovites, all Russians who cherish democracy and freedom, gather at the Mossovet building!" — thousands poured into the streets.

Grandson of writers Arkady Gaidar and Pavel Bazhov. After Moscow State University, he edited the economic sections of Kommunist and Pravda, arguing for market reform from within the party press. In November 1991 he became Yeltsin's Deputy PM and Minister of Economy and Finance; on 2 January 1992 he liberalised prices and launched privatisation, converting the Soviet planned economy into a market system. He served as Acting PM (June–December 1992) and during the 1993 constitutional crisis went on live television to call Muscovites into the streets. His reforms averted famine and collapse but wiped out millions' savings, a legacy that remains Russia's most polarising policy debate.