The output contractions during the initial transition stages in the Baltics and in Russia and the other CIS countries are examined across several dimensions, and the reliability of the available official statistics evaluated. The depth, length and breadth of the contractions are studied and set...

Despite their increasing fiscal burden, the public pension systems of BRO countries are failing to provide adequate social protection. Although there is a broad consensus about the need for pension reforms, BRO countries are debating whether to embark on systemic reforms or whether to correct...

Der Bericht behandelt die wirtschaftliche Entwicklung der früheren Sowjetunion im Jahr 1991 und dient als Hintergrund für die Wirtschaftsberichte über die früheren Sowjetrepubliken. Die Informationen beruhen auf Gesprächen der IMF-Mission mit den Sowjet-Behörden, den Informationen, die...

Am 3. Januar 1992 stellte der Präsident der russischen Föderation den offiziellen Antrag auf Aufnahme in den IMF und die Weltbankgruppe. Bereits seit November 1991 besuchten IMF-Experten Moskau, um mit den russischen Behörden die Wirtschaftspolitik zu besprechen, eine fundierte...

A joint IMF-World Bank mission visited the Russian Federation from March 15 to 31, 2016, to conduct an assessment under the Financial Sector Assessment Program (FSAP). The mission assessed financial sector risks and vulnerabilities, assessed the quality of financial sector supervision, and...

With about RUB 988bn (USD 26bn) in gross premium written, in 2014, the Russian insurance industry ranked 27th in the world. Non-life insurance premium accounted for 89 percent of GPW while life insurance for only 11 percent. In 2015, the industry also faced with the consequences of the Western...

The overall state of financial inclusion in Russia is relatively advanced along certain basic metrics. The number of adults with accounts at a financial institution stands at 67.4 percent, which compares well to the Europe and Central Asia (ECA) regional average of 51.4 percent. Account...

This technical note covers the insurance sector supervised by the CBR. The analysis was carried out as part of the 2016 Financial Sector Assessment Program (FSAP) of the Russian Federation, and was based on the regulatory framework, supervisory practices and other conditions as they existed in...

State-owned financial institutions fall into three main groups: commercial banks, hybrid banks, and development institutions. The larger state-owned commercial banks/ groups include Sberbank, the VTB Bank group, and Gazprombank. Like private commercial banks, these institutions do not have a...