IMF urged Russia to conduct economic reforms – RBC

Quote.rbc.ru 19.05.2015 09:07

IMF calls on Russia to carry out reforms to improve the situation in the economy. This was stated by Deputy Director of the International Monetary Fund Min Zhu at a conference on doing business with the countries of the BRICS group (Brazil, Russia, India, China, South Africa), which was held at the Russian Embassy in the United States.

According to Zhu Min, reform It should be carried out, in particular, in the energy sector. Deputy Director of the IMF did not speak in detail about what exactly the reforms in question. Min Zhu also noted that “the Russian central bank to adequately respond to the situation, acting cautiously and well”.

Ming Zhu also announced the recommendations of the IMF for the other BRICS countries. According to the IMF, China is the most important changes in the national currency for India – attracting investments to Brazil – the restoration of competitiveness for South Africa – the restructuring of the economy.

In the middle of April, the IMF gave a forecast that in 2015 Russia’s GDP will fall by 3.8% instead of 3%, as expected at the beginning of the year. The IMF predicted that the average annual inflation in Russia in 2015 will amount to about 18% and will slow to 9.8% in 2016.