NEWSLINK AFP: More gloom ahead for Moscow and former Soviet region, says IMF
The International Monetary Fund on Tuesday predicted more pain for the Russian economy and gloom around the ex-Soviet region despite positive noises from Moscow that the worst of the crisis might be over.
Russia’s economy is expected to shrink by 3.8 percent this year as sanctions imposed by the West over the conflict in Ukraine and low oil prices push the country deep into recession.