A detour or a derailment?

Article Abstract:

Russia achieved low inflation through the stability of the ruble. The devaluation of the ruble, short-term debt defaults, and restrictions affecting capital account payments will undermine Russia's achievements, and may not solve Russia's economic problems. There is less of a danger of currency panic, but the banking system faces more serious problems. The state savings bank, Sberbank, accounts for over 80% of savings. Most private banks deserve to be allowed to collapse, but tycoons expect the government to aid the banks. Poorly connected banks have a greater chance of collapsing, and deposits by individuals are guaranteed by the central bank.

Currency devaluation, Devaluation (Currency)

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Stable doors

Article Abstract:

Banking reform is a task that the new Russian government may find hardest to tackle, which means that the Russian central bank's move in revoking licenses for 12 commercial banks is promising. These 12 banks incluide Unikombank and Bank Menatep. The move may, however, be geared to impressing creditors from western countries, and none of the 12 banks had been very active. Some smaller banks from the 12 had been involved in tax evasion, and the move helps to tackle this problem.

Economic policy, Central banks

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Bank error

Article Abstract:

The Russian banking system is in need of reform, and problems arising from the state of the system are examined in detail.

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