Dr. Constantin Grudgiev
Moody’s latest note on Russian banks, titled SME Lending in Russia: Growth Supports Profitability, but Cyclical Credit Risks Remain is available in Russian.
The note argues that since 2010-2011, Russian banks’ origination of credit to SMEs has grown on the back of banks’ strategic expansion within the SME sector that sees growth in lending to SMEs exceeding that for larger corporates. Read more…
Dr. Constantin Gurdgiev
Russia’s central bank (CBR) refinance rate was affirmed at 8.00% last week, with the overnight deposit rate at 4%, the minimum auction repo rate at 5.25% and the fixed repo rate at 6.25%. Per Danske Markets, “the CBR stated that it views rates as being acceptable for the coming months as inflation pressures arise in H2 12.”
Read more…
By Dr. Constantin Gurdgiev.
In its annual credit report on Russia, issued on February 29, Moody’s Investors Service confirmed Baa1 rating and stable outlook for Russian Government bonds, pointing that investment grade ratings for the country are supported by “high financial strength, but constrained …by the country’s moderate economic strength, its low institutional strength and its rising, albeit still low, susceptibility to event risk”. Read more…
Dr. Gurdgiev: Irish exports to Russia totalled €46.9 million in September, up 61.2% yoy, against Irish imports from Russia of €7.8 million, up 14.7% yoy.
Read full post at trueeconomics.blogspot.com.
Dr. Constantin Gurdgiev: “The market potential for Irish trade with Russia is in the region of €1.3-1.5 billion or roughly double the current levels of exports; for Irish investment into Russia is in the region of €1 billion per annum. There is also a huge potential for Russian investment into Ireland. In recent years, Russian investments into EU have been increasing from about €3 billion annually in 2008 to the expected volume of €4.1 billion in 2011. But Ireland remains off the map for Russian investors with just two Russian-owned companies being clients of the IDA.”
Read full article on trueeconomics.blogspot.com.
Related News
WTO Working Party seals the deal on Russia’s membership negotiations
Nov 10. Russia’s accession to the WTO cleared a major hurdle when the WTO Working Party on its accession approved, ad referendum on 10 November 2011, the package spelling out Russia’s terms of entry to the organization. The Working Party will now send its accession recommendation to the 15 —17 December Ministerial Conference, where Ministers are expected to approve the documents and accept Russia as a WTO Member.
Dr. Constantin Gurdgiev’s concise but comprehensive overview of Russian economy on trueeconomics.blogspot.com.
The Voice of Russia, country’s radio broadcast in 38 languages, interviewed Constantin Gurdiev, IRBA chairman, on Ireland-Russia trade and economic relations.
http://english.ruvr.ru/2011/03/23/47865338.html
Interfax, Russia’s second largest news agency, has published an interview with Constantin Gurdiev, IRBA chairman, where he discussed the real strength of Ireland and the opportunities it presents.
http://www.interfax.ru/txt.asp?sec=1483&id=174612
The interview is published in Russian.
