IMF Staff Country Reports

Russian Federation: Selected Issues

Publication Date:

May 30, 2003

Electronic Access:

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Summary:

This Selected Issues paper examines the potential costs of faster disinflation in Russia, drawing on the experience of European transition countries. The paper analyzes this experience, discusses factors contributing to the persistence of moderate inflation, and quantifies the disinflation costs in these countries. It compares the Russian economy with the sample countries. The paper concludes that a relatively rapid reduction of core inflation from above 10 percent in 2002 to less than 5 percent in 2004 would be beneficial for the Russian economy.

Series:

Country Report No. 2003/146

Subject:

Financial markets Fiscal policy Inflation Inflation targeting Monetary policy Oil prices Prices Securities markets