Observers had been expecting the move for some time. In 2006, Sergey Ignatiev, chairman of the Central Bank of Russia, declined to nominate Paramonova to the CBR board of directors. Paramonova joined the State Bank of the USSR in 1972 and served as the acting Bank of Russia chairman between 1994 and 1995 and the CBR first deputy chairman from 1998.
Paramonova was for many years
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