IMF hails Russian banking reforms

RUSSIA - The International Monetary Fund has hailed measures in Russia to reform the country's banking system.

Arne Petersen, head of the IMF department for financial organizations and markets, told Interfax News Agency that the fund supported a banking reform strategy by Russia's government and Central Bank approved in December 2001, and that the Central Bank has made progress in putting it into practice.

Petersen led an IMF mission to study Russia's finance sector that met with Russian banker