Russia “does not run any risk of default” because “it has all the financial means” to meet its obligations. This was stated by Central Bank Governor Elvira Nabiullina, quoted by Tass Agency.
On April 18, the governor had hinted that international sanctions against Russia, having hit the financial market, would have “greater impact” on the local economy, which “has had to face structural changes in recent months” in order to adapt adapt to the new reality. . . In essence, the technocrat and well-respected Nabiullina, using jargon as well, painted a difficult picture for the country’s economy in the coming months and announced a rate cut, also at the price of letting inflation run, which had already risen to 17.4 in March has skyrocketed %.
The words, those of the governor, which did not match the picture described by the Kremlin, so much so that after a few hours a more reassuring message arrived from President Vladimir Putin: the economy is “stabilizing”, as is inflation, with the ruble falling in the Ukraine has returned to pre-war levels. Indeed, he affirmed, the “economic blitz” launched by the West through sanctions against Russia “failed” while the same sanctions are already causing “a drop in living standards” in European countries. If necessary, she will use the state budget to support the ailing economy.
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