Download Now
Apparently, Russia has aspirations to turn its currency, the ruble, in an international reserve currency. In addition, according to an official with the International Monetary Fund (IMF), this plan is not that far-fetched. Despite soaring inflation and political oppression, Russia's economy is expected to increase to 8% for the next two years, mainly due to soaring prices of natural resources. By his own admission, Russia must diversify its economy without impeding growth, strengthen its financial system and monetary policy with price stability in mind. These ambitious measures, combined with continued economic growth, the position ruble to be stable and viable alternative to the dollar, particularly on a regional basis. The Guardian reports:
Russia, with a 1.3 trillion dollar economy at the end of last year, seeks a place among the top five countries by 2020, [President] Medvedev said. But he recognizes the primacy of law must be strengthened and corruption must be eradicated.
No comments:
Post a Comment