Boris yeltsin bio

Boris Yeltsin's years as President of Russia

The presidency of Boris Yeltsin began with his first inauguration on 10 July 1991, and ended on 31 December 1999 when he announced his resignation.

A referendum held on 17 March 1991 approved the creation of the post of president of Russia; Yeltsin was elected Russia's first president in a presidential election held on 12 June 1991.

During his first term, Yeltsin implemented reforms including economic shock therapy and nationwide privatization to transform Russia's command economy into a market economy.

The country faced a severe economic downturn following the reforms as well as persistent low oil and commodity prices, the emergence of currencies which replaced the Soviet rouble in the former Soviet Union, and an increase in public debt with the depreciation of the Russian rouble.

These issues affected not only Russia, but the economies of other post-Soviet states.^[1][2] Within a fe