In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

This technical note focuses on the stress testing exercise in 2010 for the financial sector assessment program based on the existing approaches of the Central Bank of Russia, as well as a separate bottom-up exercise. The tests covered broad ranges of risk factors. The single factor tests...

This paper focuses on targeted detailed assessment of observance of the Basel Core Principles for effective banking supervision. The selection of the principles to be reassessed was made by the mission team based on an analysis of the risks and vulnerabilities of the Russian Federation. It was...

This technical note discusses the lessons learned from the financial crisis in Russia in 2008. The note summarizes key findings and recommendations, and analyzes the institutional framework and coordination arrangements for systemic risk monitoring and crisis management. It also covers crisis...

The paper discusses the social protection implications of the weakening financial and administrative capacity of countries undergoing economic transition. The formal sector is shrinking, and unemployment and underemployment are rising rapidly. This is affecting both the revenue base of social...

Output has rebounded strongly and is now above the pre-crisis level in Russia. Inflation pressure stemming from the ruble depreciation has been reigned in and inflation has been brought down. The paper contains a detailed description of developments in the enlarged government budget, including...

Russia Rebounds analyzes Russia’s dramatic economic recovery since the country’s 1998 financial crisis, emphasizing macroeconomic issues and fiscal and banking sector reforms. The crisis was a massive shock to the system and a considerable surprise to both Russians and foreign investors, who...

The Russian Federation economy saw growth of about 4 percent and a current account surplus—the result of favorable harvest, high oil prices, and reduced unemployment and inflation. Implementation of structural reforms initiated by the Central Bank of Russia (CBR), managing domestic demands,...

The Selected Issues paper on the Russian Federation discusses the economic growth and future growth potential of the country. After almost a decade of impressive growth performance, Russia suffered a sharp contraction in 2009 with GDP falling by 8 percent. This paper gives an overview of the...

Pension reform is a key policy challenge in Russia. This paper examines how pension spending could increase in Russia in the absence of reforms, quantifies the impact of some recent proposals, and suggests some alternatives that would ensure public pension benefits - relative to wages - not fall...