Russian Federation: Staff Report for the 2006 Article IV Consultation
IMF Staff Country Reports, December 6, 2006
Source details
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- Russian Federation: Staff Report for the 2006 Article IV Consultation
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Bibliographic details
- Published: December 6, 2006
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451975246.002
Growth and terms-of-trade effects
- Propelled by large terms-of-trade gains, GDP growth has accelerated and is running close to potential.
- The demand pressures associated with the large terms-of-trade gains are reflected in a fast real appreciation of the ruble.
Exchange rate, inflation, and monetary policy
- More of the real appreciation has come through nominal appreciation during the last year.
- IMF staff welcomed the greater focus on inflation control, but cautioned that additional exchange rate flexibility would be needed to meet the end-2006 target.
- The report highlights unsterilized foreign exchange intervention and exchange rate policy as central issues for macroeconomic management.
Fiscal and structural policy
- The authorities agreed that structural reforms are behind.
- Key fiscal and public finance themes covered include the Federal Government budget, stabilization fund, and public debt dynamics.
Subjects and keywords
- Subject: Exchange rates, External debt, Foreign exchange, Inflation, Oil prices, Prices, Public debt
- Keywords: budget, CR, Exchange rates, Federal Government budget, GDP, Global, Inflation, inflation projection, ISCR, oil price, oil price projection, Oil prices, projection, stabilization fund, terms-of-trade gain, U.S. dollar, unsterilized foreign exchange intervention, WEO
International Monetary Fund. Russian Federation: Staff Report for the 2006 Article IV Consultation. Country Report No. 2006/429 (2006).
Content in this bundle
- _cr06429 - Executive Summary
- _cr06429r