Russian Federation: 2008 Article IV Consultation-Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion

IMF Staff Country Reports, September 22, 2008

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Russian Federation: 2008 Article IV Consultation-Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion

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Bibliographic details

• Published: September 22, 2008
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781451833171.002

Key findings

• The Russian banking system has proven to be relatively resilient in the face of worldwide turmoil.
• The central bank is still intervening heavily in the foreign exchange market.
• Russia’s banking system is still comfortably liquid with overnight interbank rates at the lower end of the usual trading range.
• Executive Directors suggested a careful reconsideration of the authorities’ policy stance, so that price developments are not shaped primarily by uncertain external developments that remain beyond the authorities’ control.

Subjects and keywords

• Subjects: Balance of payments, Current account, External debt, Inflation, Oil prices, Prices, Public debt
• Keywords: broad money, consultation, consultation informational annex, CR, Current account, Global, IMF staff project GDP growth, IMF staff representative, Inflation, ISCR, oil price, Oil prices, representative, statement

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