Monthly Archives: April 2020

Why only a small fraction of Russia’s 18-trillion-ruble safety cushion can be used to support the economy during the COVID-19 crisis

As of the beginning of spring quarter 2020, Russia’s liquid assets on the regional, federal, and extrabudgetary levels totaled 17.7 trillion rubles ($234.9 billion), the business newspaper RBC calculated. That’s more than 16 percent of the country’s GDP. However, only a small slice of that amount is legally available to the government for stimulus spending as the country dives into an economic

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Analysts Fear the Economic Impact of Russia’s April Coronavirus Shutdown Will Be Catastrophic

Growth is set to crash and unemployment to jump sharply, as Putin extends paid holiday until the end of April. By Jake Cordell and Stanislav ZakharkinUpdated: April 3, 2020 Russia could be heading for its deepest recession in a generation with millions of workers set to lose their jobs, economists have warned, in a stark assessment of the economic costs of the coronavirus outbreak,

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Living Standards To be Main Victim of Coronavirus Economic Shock

Real incomes forecast to fall faster than the wider economy, heaping strain on Russian households. Russian living standards will this year see their biggest drop since the financial crisis, a new economic forecast has warned. Real cash incomes could crash by as much as 5% in 2020, analysis by the Analytical Credit Ratings Agency and Alfa Bank has found. That would

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Kolomoisky comments on amendments to banking regulation bill

Businessman Ihor Kolomoisky, co-founder of Privatbank, has commented on the introduction by Ukrainian legislators of 16,335 amendments to Bill No. 3260 on banking regulation. When asked by journalists about the fact that most of the amendments to the bill were made by lawmakers who allegedly have a positive attitude toward him, Kolomoisky said: “As far as I know, they have

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US President Donald Trump said he could suspend funding for the World Health Organization ( WHO).

According to him, this is due to the fact that WHO made unsuccessful decisions in the situation with coronavirus. “ They made a mistake on many issues, it seems that they took an extremely pro-Chinese position … They did not sound the alarm in time. They probably should have started acting a few months earlier, ”he said. Trump noted that “ WHO receives a

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Russia Opens Criminal Probe Against Satirist Over Virus Video

A Russian satirist said Tuesday he had become the target of a criminal probe over spreading false information after he joked the coronavirus had been created in a secret Siberian lab. “Friends, a criminal case has been opened against me over yesterday’s humorous video in which I’m mocking a conspiracy theory about the coronavirus originating in a Russian lab,” blogger Alexander

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