Due to the small size and volatility of the Russian money market, Russian entities choose two extremes as benchmarks for their interest rates – the key interest rate and the MosPrime rate, at which banks themselves do not lend to one another.
Putting off an increase in the retirement age has cost Russia cuts in spending on development and increased pressure on the workforce. The next step is to estimate how much the budget will gain from the reform and to find the most effective way to use this money.
Dialogue Chain. Episode 9. Ksenia Yudaeva, First Deputy Governor, Bank of Russia, and Muhammad Yunus, Nobel Peace Prize Laureate of 2006, founder of the Grameen Bank
Five years ago, half of all Russian banks provided a full range of banking services to companies and households; now only one in three do. Banks are opting to specialize more narrowly or to move away from clear business models altogether.
Dialogue Chain. Episode 8. Muhammad Yunus, Nobel Peace Prize Laureate of 2006, founder of the Grameen Bank, and Alexey Savatyugin, Aide to the Chairman of the Accounts Chamber of Russia
Non-commodity exports have slumped, and their fall can no longer be offset by oil and gas. Demand for Russia’s goods is decreasing as its trade partners’ growth slows.
Dialogue Chain. Episode 7. Alexey Savatyugin, aide to the Chairman of the Accounts Chamber of Russia, shares a brief overview of the Russian financial market in converstion with Apurva Sanghi, lead economist for Russia at the World Bank Group.
The global economic slowdown is becoming a key threat to financial markets. The measures taken by central banks may prove insufficient to prevent a negative outcome.
Dialogue Chain. Episode 6. Apurva Sanghi, lead economist for Russia of the World Bank Group, talks about ways to double the potential growth rate. Questions by Evsey Gurvich, head of Economic Expert Group, a leading Russian think-tank.
The large-scale National Priority Project in housing has the potential to cause an accelerated increase in real estate prices, household debt, and banks’ credit risks. Moreover, explosive market growth could give way to a slump when the Project comes to an end.
Dialogue Chain. Episode 5. Marek Dabrowski, Professor of the Higher School of Economics, non-resident Scholar at Bruegel, interviews Evsey Gurvich, Head of the Economic Expert Group