Russia’s Capital Outflows Eased to $33 Billion Last Quarter
This article is for subscribers only.
Russia’s capital outflows more than halved in the first quarter from the previous three months, even as departing funds continued to pose a challenge for an economy facing recession, falling oil prices and sanctions over Ukraine.
Net private capital outflows, swollen by foreign debt redemptions, were $32.6 billion from January through March, the 23rd consecutive negative quarter, according to initial estimates published by the central bank late on Thursday. That compares with $72.9 billion in the prior three months.