Russian Federation: 2009 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion

August 7, 2009

Preview Citation

Format: Chicago

Russian Federation: 2009 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion, (USA: International Monetary Fund, 2009) accessed November 23, 2024

Also available in: русский

Summary

This 2009 Article IV Consultation highlights that the banking system of the Russian Federation is under increasing strain, and private sector credit is contracting. The authorities’ response to the crisis has been swift and substantial, driven by concerns that weaknesses in the banking and corporate sectors could lead to a full-fledged crisis. Executive Directors have commended the authorities for a swift and substantial policy response to these developments. Directors have also encouraged the authorities to take a more proactive and concerted approach to tackling the problems in the banking sector.

Subject: Banking, Correspondent banking, Credit, External debt, Financial services, Money, Oil prices, Prices, Public debt

Keywords: Carry trade, Consultation, Consultation informational annex, Correspondent banking, CR, Credit, First-quarter downturn, Fiscal policy, Global, ISCR, Monetary policy, Oil price, Oil prices, Recapitalization plan

Publication Details

Pages:

80
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2009/246
Stock No:

1RUSEA2009002
ISBN:

9781451833195
ISSN:

1934-7685

Notes

Also available in Russian

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