Contents tagged with economic crisis
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Transdniestria begins investigation into economic crisis
The Parliament of Transdniestria announced the establishment of a Commission for Deputy Investigation of the reasons of the currency crisis in the unrecognized republic. The Parliamentary press-service informed TASS that in the last few days, a crisis started in the domestic exchange market of Transdniestria.
According to the data of the central bank, March 1st currency reserves in amounted to the equivalent of $12.35 million. In February it was at $18.75 million and in December it equaled $32. …
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Economist explains IMF credit policy in regard to Ukraine
There will be a continued depreciation of the national currency in Ukraine, and the exchange rate may reach 30-35 UAH to the US dollar, as stated by economist, Elena Slezko, in her commentary for GolosUA. She also stated that the International Monetary Fund (IMF) plays a considerable role in this situation.
“Everything depends on the government’s actions and how long the IMF will delay the next tranche as we are very dependent on that money,” she noted. “All developing economies use a number …
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Russian Government Considering 10 Percent Budget Cut
The Russian Federation plans to start the year by again making budget amendments including a 10 percent spending cut due to the sharp decline in oil prices and the economic recession, Reuters reported. According to their sources, after a meeting with the Russian Prime Minister, Dmitry Medvedev, it was decided to adjust approved spending to 90% of the previously approved amount. "We have the minutes from the meeting. According to it, government offices are required to create new budget …
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Kerzner: Ukraine will be one of the best places to invest
The Honorary Consul of Ukraine in Jerusalem, the founder and owner of the City Capital Group, Ofer Kerzner, together with other representatives of the business circles of Israel met recently with the President of Ukraine, Petro Poroshenko. During the meeting they discussed the creation of the most favorable conditions for investments in the country’s economy. Mr. Kerzner, who is an investment pioneer and has over 20 years of experience in Ukraine, shared details of his work. He told them how …
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Kudrin: Russia has not reached peak of economic crisis
Former Minister of Finance of the Russian Federation, Alexei Kudrin, was engaged in talks last week with Russian President Vladimir Putin and other top officials about returning to a senior post to help deal with the worsening economic situation.
According to Kudrin, if oil prices continue to fall, there will be a further decline in the Russian economy.
Kudrin holds that the Russian economic crisis has not yet reached its pinnacle, and argues that “today we see a further deterioration of the …