Maria Levitov Archive

Russian Central Bank spent $58 billion backing Ruble (Update1)

[Skip to the end] Russian Central Bank Spent $58 Billion Backing Ruble (Update1) By Alex Nicholson and Maria Levitov Nov. 19 (Bloomberg) — Russia’s central bank spent $57.5 billion defending the ruble in September and October, Chairman Sergey Ignatiev said. Why would they ‘defend’ the ruble? Maybe they ‘defend’ it selectively, via ...Read More

Bloomberg: Russian Oil Fund Should Be Tapped for Pensions

While relatively small, investing in pensions vs. ‘spending’ reduces aggregate demand. And ‘liquidity’ for the banking sector can readily be increased independently of these funds as needed. Russian Oil Fund Should Be Tapped for Pensions, Kudrin Says by Maria Levitov and Alex Nicholson (Bloomberg) Russia’s Finance Minister Alexei Kudrin said the country’s ...Read More