Russian President Vladimir Putin and IMF chief Christine Lagarde
The head of the International monetary Fund (IMF) Christine Lagarde during the APEC summit in Peru praised the actions of the Russian authorities, including the Central Bank to maintain macroeconomic stability, reports “RIA Novosti”.
As told Deputy economic development Minister Stanislav Voskresensky, during the meeting, leaders of APEC economies with the head of the IMF, President Vladimir Putin asked her a question about the state of Russian finances. “Lagarde replied, I literally say — with regard to the head of the Central Bank, it did a fantastic job,” said Voskresensky.
Further, according to the official, Putin asked a clarifying question. “The banking system is stable, but somehow she is very very passive and inactive credit to the economy, there is no contribution of the banking system in economic growth. He asked if she had any ideas of action” — quoted Putin’s resurrection.
“Here, Lagarde went to answer, saying that in each case it is necessary to consider specificity of the country and to discuss in more detail. Recommendations not followed, but it emotionally at all I said that Russia against the background of the situation that Russia faces, especially with the fall in oil prices, a very decent left, get out on the track — it wants sustainable growth,” — said the Agency interlocutor.
Earlier it was planned that at the summit in Lima will fly Alexei Ulyukayev, who was the head of the Ministry of economic development. However, after 15 November, the Investigative Committee announced that the speaker is detained on suspicion in receiving a bribe, it was decided to send to Peru, Deputy Minister Stanislav Voskresensky.
In October 2015, speaking at the forum “VTB Capital” “Russia calls!”, the President of the company “RUSAL” Oleg Deripaska described the Russian debt market as “bondage”, and the financial system is “usurious”. He noted that in the current environment, the business will not take risks: “Nobody will be in the current situation to borrow at 12% and create processing industry”.
“The question is not investment. Now all companies will try to reduce its debt burden. Because the bond market is inefficient, you might say, onerous. Financial system and money — lending. Sorry, escaped”, — said Deripaska. “How to provide the financial resources for companies so they can process the order, as “Rosneft” to extract resources? It is necessary to provide companies with affordable loans at 5%. And while this rate will not be any economic fracture will not” — said the businessman.
19 September 2016 key rate is at 10% per annum. On 9 November the Bank of Russia recorded the first structural surplus liquidity in the banking system. “We have Monday happened first tentative structural surplus of liquidity — RUB 26 billion, it is up to the end of the year may be unstable. From January he will be settled in the area, and consequently, economic preconditions for release OBR (Bank of Russia bonds. — RBC) somewhere in the beginning of the year should be”, — said the head of the Department of monetary policy of the Central Bank Igor Dmitriev.