``If half of the support that was given to those who destroyed the economy was given to this team, it could save the situation,'' Gorbachev told a press conference here.

``Any kind of foot dragging by the IMF (International Monetary Fund) and the West is wrong, and right now we have a team that understands what needs to be done,'' Gorbachev said.

Last week, Russia's broke government rubber-stamped a crash budget to get the country through the next three months, with a large deficit which ministers hope will be at least partly filled by IMF money.

``Those people have chosen democracy and understand the need for market economy,'' Gorbachev said.

Under the accord reached by Russian and IMF officials, on Tuesday, Russia will give the IMF its plan of emergency measures to pull itself out of itseconomic crisis.

Gorbachev and former Israeli Prime minister Yitzakh Shamir were guests of honour at a gala dinner here to celebrate the 10th anniversary of Operation Exodus, the emigration of hundreds of thousands of Soviet Jews to Israel.

Shamir refused to comment on the Wye River memorandum, the interim Middle East Peace agreement reached last Friday after nine days of intense negotiations between the Palestinian and Israeli sides, brokered personally by President Bill Clinton.