Fast ruble gains, says IMF
The ruble get increased attention of investors ready for big emerging marked returns and keen to cash in on high oil prices.
The International Monetary Fund (IMF) forecasted Friday Russia’s currency to retreat fast, reports the Moscow Times.
IMF argues that Russia – which for years restrained ruble gains to support its fledgling industry and keep inflation in check – needs to learn to live with “significant and fast real appreciation” of the currency. Real appreciations put strong emphasis on structural reforms, says Paul Thomason, head of the IMF’s mission to Russia, quoted by the Moscow Times.
