Date: 10 months ago   Category: Economy

Nabyullina has declared impossibility of the Russian Federation to develop "iron immunity" to external shocks — Rambler News Service


The head of the Central Bank Elvira Nabiullina, performing with a lecture on the platform of the International Monetary Fund (IMF) in Washington, I have said that Russia can't develop "iron immunity" to external shocks. Her words are cited by Reuters. "As the economy of Russia is open (with a big share of international trade in GDP and the opened financial account), our country can't develop iron immunity to external shocks" — Nabyullina has told. She has noted that the main external risks of the Russian ekonmika are connected with the oil prices, normalization of monetary policy of the developed countries and geopolitics. According to Nabyullina, concerning the first two factors of the Central Bank have taken precautionary measures. "As for geopolitical events which include not only sanctions, but also trade wars and potential currency wars, it is harder and harder here. These events are much less predictable. They cause cross-border effects which often can't be expected. It forces us to increase even more the reserves" — the head of the Central Bank has told. Nabiullina has emphasized that in the modern world trade measures or sanctions against one country can have global consequences. So, if the countries are forced to answer with building of "excessive buffers", it can lead to delay of growth of world economy, the head of the Central Bank has added. Earlier today the head of VTB Andrey Kostin, acting on Moscow a financial forum, I have listed measures which should be undertaken for sufficient protection of the banking sector of Russia against external risks, in particular from sanctions of the USA.

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