The United Kingdom's potential exit from the EU poses a number of macroeconomic risks. Considering the overall growth of uncertainty, the recession in the UK cannot be ruled out. The decline in capital inflows to the UK economy can be predicted, which could pose a threat to the stability of the...

In 2018 Russia continues to reduce, since the 2014–2015 crisis, its external debt. An additional factor contributing to the reduction of debt to non-residents is that non-residents have reduced their holdings of OFZ bonds over fears of new sanctions against Russia. Therefore the today's level...

The Russian current account balance rose in Q2 2018 year-on-year on the back of, among other things, rising positive balance of trade. Non-residents reduced their holdings of OFZ bonds over downbeat geopolitical expectations. Some extra growth in the current account balance can be expected in...

The Bank of Russia decided in June to keep the key interest rate unchanged because of worsening geopolitical uncertainty, capital outflows from developing countries as a consequence of tighter US Fed's monetary policy, plans to raise the VAT rate, as well as prices adjustment to a weaker rouble....

The Bank of Russia eased at slow enough pace its monetary policy in 2017 despite substantial deceleration in inflation, holding that ongoing inflation risks were high, including a possible decline in crude oil prices and capital outflow, upturn in consumer demand, fiscal policy uncertainty, as...

The toughening, by the central banks of developed countries, of their monetary policies has triggered a capital outflow from the developing countries. To control the inflation caused by a significantly weakened national currency, the central bank of Argentina had to sharply toughen its monetary...

This Policy Brief argues that investment policies should be a core item on the agenda of the G20 and its Trade and Investment Working Group in particular. Specifically: The G20 should continue its important work on international investment policy reform and initiate steps to operationalize the...

The Bank of Russia's Board of Directors decided in April to keep the key interest rate unchanged on the heels of new sanctions on Russia that affected seriously the Russian rouble. The exchange rate pass-through to prices can guide, sooner than it was expected, inflation closer to its 4% target...

Russia's positive balance of trade increased in Q1 2018 reflecting an increase of exports value amid slower growth of imports deliveries. Private capital outflow was observed triggered by the growth of foreign assets of Russian enterprises amid negative geopolitical expectations

The third quarter of 2018 saw Russia register the highest positive BoP on record on the back of growth in country's exports amid higher oil prices and decline in imports induced by rouble depreciation. BoP data show that non-residents continued to reduce their investment in the Russian economy....