## Russian Federation: Staff Report for the 2001 Article IV Consultation and Post-Program Monitoring Discussions

_IMF Staff Country Reports, April 4, 2002_

## Source details

**Canonical URL:** [Russian Federation: Staff Report for the 2001 Article IV Consultation and Post-Program Monitoring Discussions](https://www.imf.org/en/publications/cr/issues/2016/12/30/russian-federation-staff-report-for-the-2001-article-iv-consultation-and-post-program-15763)

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## Bibliographic details
- Published: April 4, 2002
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451833003.002

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### Summary
- This paper assesses the Russian Federation’s 2001 Article IV Consultation and Post-Program Monitoring Discussions.
- Improved economic performance and reduced external vulnerability were reflected in a strengthening of financial market indicators in 2001.
- The Russian stock market doubled in U.S. dollar terms.
- Bond spreads narrowed significantly.
- Rating agencies upgraded Russia’s debt.
- The near- to medium-term outlook remains favorable.
- The recent successes in building up strong external and fiscal positions should enable Russia to deal with the current less favorable external environment with the prevailing policy framework.

### Key findings and indicators
- Financial markets: stock market doubled in U.S. dollar terms; bond spreads narrowed significantly; sovereign credit upgrades by rating agencies.
- External and fiscal positions: characterized as “strong” relative to the prior period; reductions in external vulnerability cited.
- Outlook: described as favorable over the near- to medium-term given built-up buffers and prevailing policies.

### Subjects and keywords (as listed)
- Subjects: Banking, Expenditure, Exports, Fiscal policy, Fiscal stance, Inflation, International trade, Oil prices, Prices
- Keywords: CR, debt service, director, Europe, Exports, February, federal budget, Fiscal stance, Global, Inflation, ISCR, Oil prices, spending surge, surplus, surpluses of the federal government, tariff, utility tariff

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/30/russian-federation-staff-report-for-the-2001-article-iv-consultation-and-post-program-15763_