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Middle East and Central Asia > Kyrgyz Republic

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Cover IMF Staff Country Reports
Russian Federation: Staff Report for the 2012 Article IV Consultation
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; fiscal policy; Russia; Nonoil balance excl. one-off receipt; market; bank
Cover IMF Staff Country Reports
Russian Federation: Staff Report for the 2012 Article IV Consultation
International Monetary Fund
The Russian Federation economy saw growth of about 4 percent and a current account surplus—the result of favorable harvest, high oil prices, and reduced unemployment and inflation. Implementation of structural reforms initiated by the Central Bank of Russia (CBR), managing domestic demands, and non-vulnerability to oil price variation were suggested by the Executive Board as short and mid-term challenges. Strengthening monetary policy framework, allowing greater exchange rate flexibility, implementing Financial Sector Assessment Program (FSAP) recommendations, expansion of CBR powers, reduced state involvement in the economy, and enhancement of communication policies were also recommended.
Keywords:
ISCR; CR; fiscal policy; Russia; Nonoil balance excl. one-off receipt; market; bank; CBR repo rate; windfall oil revenue; potential GDP; trend inflation; Nonoil balance excl. one-off; I. fund relation; oil price; Oil prices; Inflation; Correspondent banking; Global
Cover IMF Working Papers
The Imf and the Ruble Area, 1991-1993
Mr. John C. Odling-Smee
and
Mr. Gonzalo C Pastor Campos
This paper summarizes the IMF advice on the ruble area as it was presented to the national authorities in Russia, the Baltic countries, and other states of the former Soviet Union in 1991-93. In the course of doing so, the paper corrects some misperceptions that have arisen about the IMF's role. The evidence presented in the paper suggests that (i) the balance of arguments on the ruble area (and national currencies) changed over time, and hence so did the IMF's advice, and (ii) from the beginning, the IMF staff concentrated on pointing out the pros and cons of alternative monetary arrangements, without strongly advocating a particular one, emphasizing that it was the authorities' decision to stay in or leave the ruble area. Fund advice on how to introduce national currencies was made readily available to the various national authorities as early as January 1992.
Keywords:
WP; ruble Area; country; ruble; Area arrangement; government; Monetary policy; national currencies; Area option; common currency; ruble Area arrangement; Area membership; Area work; ruble area arrangement; Currencies; Monetary unions; Currency reform; Credit; Correspondent banking; Baltics