EBRD sees no sign of banking crisis in Russia

The European Bank for Reconstruction and Development's senior economist, Ivan Szegvari, has said Russia is not in danger of a banking crisis similar to August 1998. At the presentation of the EBRD's report on transition economies he said the view was based on the high price of oil, level of institutional development and general macroeconomic stability.

Source: Interfax

The European Bank for Reconstruction and Development (EBRD) does not think there is any prospect of a banking crisis in Russia.

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