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Email this citationCIAO DATE: 07/04
George Russell Centre Newsletter No. 2, Financial System of Russia: Threats and Challenges of the 21st Century
June 2003
Abstract
On June 11, 2003 the second regular round-table discussion within open discussion “Future of Russia: Global Competitiveness Development” took place in the Moscow Center of the EastWest Institute. The topic under discussion was: “Financial System of Russia: Threats and challenges of the 21st century”. Leading Russian experts participated in the discussion; many of them are members of the Expert group of the George Russell Center. The participants of the discussion admitted the problem of financial sphere as one of the key of Russian economy, and they also noted that attention given by the public is not enough and the efforts to solve this problem by the monetary authorities are poor. The main problems of the financial system are related to poor development of bank system, financial markets; negative interest rates of the Ministry of Finance were mentioned as a separate problem to be addressed.
