'Russia should remove the political element from its relations with the International Monetary Fond,' believes Oleg Viugin, the first deputy chairman of the Russian Central Bank. Viugin was speaking in Moscow at the round-table discussion 'On improving cooperation between Russia and international financial organisations.'
According to Viugin, until 1998 IMF loans 'were of a political nature, since they were given not for structural reform of the Russian economy, but to support the new authorities by covering the budget deficit.' 'As a result the Russian economy and the value of the rouble were artificially stabilised, but foreign investment was not stimulated,' he said.
The deputy chairman of the Russian Central Bank stressed that up to 1998 Russia's short-term debt alone was around USD 40 billion, and economic indicators 'did not reflect the true state of the country's economy.' He believes that cooperation with the IMF can only be an effective instrument for stabilising Russia's economy if the fund's resources are used for restructuring purposes. Viugin is of the opinion that Russia should avoid taking IMF loans in the future to balance its budget.
The discovery of the submarine has unveiled a few "inconsistencies." For example, how can one explain the fact that the sub was found where it needed to be searched for from the start?
When on a state visit to Singapore, Russian President Vladimir Putin promised to revisit the discussion of the 1956 Declaration between the USSR and Japan regarding the issue of the peace treaty with Japan
The TurkStream, which runs along the bottom of the Black Sea from Russia's Anapa to Turkey, will consist of two lines, each with a capacity of 15.75 billion cubic meters of gas a year