500 Day Program

• Commissioned by Gorbachev and Yeltsin in order to minimise economic problems during the transition to a market economy.
• Devised by Soviet economists Stanisalv Shatalin and Griorri Yavlinsky in August 1990.
• Proposed widespread privatisation and marketisation in less than two years.
• Gorbachev initially supportive but eventually backed down and remained committed to economic transformation at a slower pace.
• Government did not fully adopt the plan due to Gorbachev's refusal.