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15.12.2008, 16:43

State lends cash-starved banks $10.5 billion

Russia’s Central Bank held an auction on Monday to provide liquidity to the country’s ailing financial sector. Banks responded by taking loans of 293 billion roubles (US 1.5 billion) at an interest rate of 12.75 per cent.

Russia has the reserves to handle terms of trade shocks - Kudrin

Published: 19 November, 2008, 11:40


Finance Minister Alexei Kudrin

Senior Finance officials have spoken before the State Duma on the management of Russia’s foreign currency reserves and its Sovereign Wealth Fund, as speculation mounts on a possible Rouble devaluation in the wake of the global financial crisis.

 
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