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World Bank urges Russia to end currency policy.

Global Banking News-23 December 2008-World Bank urges Russia to end currency policy(C)2008 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 23 December 2008(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

The World Bank has called upon Russia to change its currency policy.

The World Bank called on Russia to abandon the ruble's managed exchange-rate policy in order to moderate capital outflow. It is expected that capital outflow is expected to touch at least USD100bn this year.

The World Bank also called upon Russia to safeguard the country's massive monetary reserves.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

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Publication:Global Banking News (GBN)
Geographic Code:0BANK
Date:Dec 23, 2008
Words:118
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