Russian Federation: Staff Report for the 2001 Article IV Consultation and Post-Program Monitoring Discussions

Author: International Monetary Fund

This paper assesses the Russian Federation's 2001 Article IV Consultation and Post-Program Monitoring Discussions. Improved economic performance and reduced external vulnerability were reflected in a strengthening of financial market indicators in 2001. The Russian stock market doubled in U.S. dollar terms, bond spreads narrowed significantly, and rating agencies upgraded Russia's debt. The near- to medium-term outlook remains favorable. The recent successes in building up strong external and fiscal positions should enable Russia to deal with the current less favorable external environment with the prevailing policy framework.

Volume/Issue: Volume 2002 Issue 074

Publication date: April 2002

ISBN: 9781451833003

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Topics covered in this book

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Business and Economics , Banks and Banking , Exports and Imports , Inflation , Economics- Macroeconomics , Public Finance , ISCR , CR , surplus , spending surge , tariff , February , director , utility tariff , surpluses of the federal government , debt service , federal budget , Oil prices , Inflation , Fiscal stance , Exports , Global , Europe

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Summary

This paper assesses the Russian Federation’s 2001 Article IV Consultation and Post-Program Monitoring Discussions. Improved economic performance and reduced external vulnerability were reflected in a strengthening of financial market indicators in 2001. The Russian stock market doubled in U.S. dollar terms, bond spreads narrowed significantly, and rating agencies upgraded Russia’s debt. The near- to medium-term outlook remains favorable. The recent successes in building up strong external and fiscal positions should enable Russia to deal with the current less favorable external environment with the prevailing policy framework.