Interfax: EBRD financials “masking” negative trends, creating risk of rating downgrade, recapitalization – Oreshkin

Diverse Paper Currency, Coins, Line Graph

NICOSIA. May 10 (Interfax) – The financials of the European Bank for Reconstruction and Development (EBRD), while formally showing positive figures, are “masking” a number of negative trends and management assumptions, and continuing the current approach to the EBRD’s activities could lead to a downgrade of its ratings and the need for recapitalization, Russian Economic Development Minister Maxim Oreshkin said […]

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Exiled Kremlin Critic Becomes EBRD Chief Economist

Sergei Guriev file photo

(Moscow Times – themoscowtimes.com – November 4, 2015) Sergei Guriev, a former adviser to the Russian government who fled the country two years ago, has been appointed chief economist at the European Bank for Reconstruction and Development (EBRD), the bank said in a statement Tuesday. Guriev is to take up his post in summer 2016. He will become the first […]

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Exiled Russian Economist Reportedly Joining European Development Bank

Sergei Guriev file photo

(Moscow Times – themoscowtimes.com – October 15, 2015) A prominent Russian economics professor who fled the country two years ago is to be appointed chief economist of the European Bank for Reconstruction and Development (EBRD), news agency Bloomberg reported Wednesday, citing two people familiar with the matter. Sergei Guriev has lived in self-imposed exile in Paris since 2013. He left […]

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Russia-Ukraine conflict overshadows EBRD meeting

International Monetary Fund Logo Over Ukraine Flag

(Business New Europe – bne.eu – Ben Aris in Tbilisi – May 15, 2015) The conflict between Russia and Ukraine has overshadowed the European Bank for Reconstruction and Development’s (EBRD) annual general meeting in Tbilisi this week, with Russian Deputy Finance Minister Sergei Storchak accusing the bank of a “political motivated” decision to suspend lending to Russia. The development bank’s […]

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Russia Hinders East Europe Growth Rebound, Development Bank Says

File Photo of Cash, Coins, Line Graph

(Bloomberg – bloomberg.com – Agnes Lovasz – November 11, 2013) Russia’s deepening economic slowdown is impeding eastern Europe’s recovery as lower oil prices hurt the world’s largest energy exporter, the European Bank for Reconstruction and Development said. Russia, the largest of 34 economies from Morocco to Mongolia where the London-based EBRD invests, will grow 1.3 percent in 2013 and 2.5 […]

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EBRD Chief Sees Opportunity in ‘Sluggish’ Russia

File Photo of Cash, Coins, Line Graph

(Moscow Times – themoscowtimes.com – September 24, 2013) EBRD president Suma Chakrabarti acknowledged Tuesday that Russia’s sputtering economy combined with deeply ingrained problems such as corruption and a weak court system were deterring both foreign and domestic investors. But he insisted that the opportunities continued to far outweigh the risks and said the Russian authorities were taking much-needed steps to […]

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