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Kazakhstan’s authorities may need to take more measures to prevent a fresh asset quality crisis fuelled by risky retail lending, rating agency Moody’s said, warning that a spike in defaults was looming. "Retail …
Russia's Finance Ministry plans to spend 228.2 bln rubles on foreign currency purchases during the period from November 8 to December 5, 2019, the Ministry said in a statement. Thus, the daily volume of foreign currency …
The share of retail consumer non-performing loans in Russia declined 0.6% to 4.8% as of October 1, according to Russia's central bank data. Outstanding loans were 16.9 trillion rubles, up from 10.6 trillion five years ago, RBC …
Russia's financial environment is improving, and the ruble remains stable regardless of political news, becoming one of the strongest currencies in 2019, according to the article entitled 'After the sanctions and oil shocks: that's …
Russia’s central bank has still not anchored the country’s inflationary expectations despite inflation targets having been reached, Governor Elvira Nabiullina said. "The central bank reserves the right …
Russia’s top bank Sberbank reported a 32% fall in third-quarter net profit, hurt by a foreign exchange loss due to the sale of Denizbank in Turkey. Sberbank sold Denizbank to Emirates NBD Group for 170.7 billion rubles ($2.7 …
Underperforming legacy loans will be transferred to a state fund
The board of directors of Russia's Central Bank cut the key rate by 50 basis points to 6.5% today. "Inflation slowdown is overshooting the forecast. Inflation expectations continue to decrease. The Russian economy’s …
Georgia's National Bank has increased the refinancing rate by one percentage point to 8.5% today at the meeting of the Monetary Policy Committee. In September 2019 the annual rate of inflation amounted to 6.4%, which is more …
European Union leaders confirmed the appointment of Christine Lagarde as the new chief of the European Central Bank, replacing Mario Draghi from November 1. Lagarde’s confirmation for a …
The Russian Central Bank can lower its key rate more decisively, versus a moderate pace of cuts in recent months, Governor Elvira Nabiullina said in a televised interview with CNBC . "We see that our key rate …
Russia raised investment in U.S. treasury bonds by $826 million to $9.327 billion in August, according to the data of the U.S. Department of the Treasury. Of the total, $6.259 billion are long-term bonds and $3.068 billion are …
Renaud Seligmann has been appointed World Bank Country Director for Russia, effective October 15, 2019. In this position, "Seligmann will lead the dialogue with the government, development partners and other …
The first year of experiment in diversifying away from the U.S. dollar cost Russia about $7.7 billion in potential returns, Bloomberg reported. Russia’s central bank added exposure to underperforming currencies such …
Efforts of the Turkic Council are aimed at expanding their economic cooperation, Secretary General of the organization Baghdad Amreyev said following the meeting of the foreign ministers of the countries of the Cooperation …
The Bank of Russia does not consider prudent to completely abandon the dollar in international reserves, department director Alexei Zabotkin said in the State Duma today. "From my personal point of view, …
A number of Sevastopol public sector employees and pensioners were left without salaries and pensions for a while, the acting governor of the city, Mikhail Razvozhaev, said today. "The technical failure of the …
New 10 lari banknotes were into circulation today across Georgia, the National Bank of Georgia reported. On the front of the new banknote there is a portrait of prominent Georgian writer and public figure, Akaki Tsereteli, with a …
Sberbank CEO Herman Gref, speaking at the International Organization of Supreme Audit Institutions (INTOSAI) Congress, described the International Monetary Fund (IMF) as the body which is completely out of the picture. …
The National Bank of Georgia has increased the refinancing rate by 0.5 percentage points to 7.5% - for the second time this September. The regulator explains that the reasons behind such decision are inflation expectations as a result …
