January data a ‘pleasant surprise’, Russian seasonally adjusted GDP up 0.6% – VEB

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MOSCOW. Jan 28 (Interfax) – January was an unexpectedly successful month for the Russian economy, which slackened at the end of 2017, and the year got off to a “very good start” even despite the compensatory nature of the uptick and non-representative character of January as a month with fewer working days, Vnesheconombank (VEB) said in a report. According to […]

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NEWSWATCH: “Russia’s Most Important Bank Needs a Bailout. VEB faces task of paying off about $20 billion in foreign-currency debt.” – Wall Street Journal

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When the Russian government needed to build up infrastructure in … Sochi ahead of the 2014 Winter Olympic Games, it turned to Russia’s most important lender: Vnesheconombank, the country’s state-owned development bank. … eventually holding the equivalent of at least $2.9 billion in overdue loans. … the bill is coming due. VEB for years kept its books in balance by […]

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