Source Pravda.Ru

Ruble credit rates tumble

At the beginning of business today, ruble balances at commercial bank correspondent accounts increased considerably. Across the country, the growth was RUR32bn (about $1.01bn); in the Moscow region, the advance amounted to over RUR29bn (about $912.40m). This morning, balances at commercial bank correspondent accounts reached RUR170bn (about $5.35bn) throughout Russia and RUR112.5bn (about $3.54bn) in Moscow. Such a significant amount of ruble balances, as well as such a considerable one-day advance, has been registered for the first time since the beginning of January 2002, which was twelve month ago.

This led to an elimination of a ruble deficit noticeable at the end of 2002. Consequently, the situation with ruble liquidity improved significantly. The absence of ruble resources at commercial banks is currently testified to by a minimal level of one-day credit rates below 3 to 4 percent, while on December 31, 2002, one-day ruble credit rates amounted to 15 percent.

More than 5.8 million people voted for Nicholas Maduro at the presidential election in Venezuela. This is more than a quarter of registered voters. Why did those people vote for the man, who, as Western media write, took Venezuela to the brink of collapse?

Venezuela may expect another Panama scenario from 1989
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