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IMF Expects Near-Term ‘Moderate Recovery’ for Russia

The International Monetary Fund’s executive board said Russian authorities took a “forceful response” to the recession last year and forecast a “moderate recovery” of 4.3 percent economic growth for this year.

“Directors agreed that the main challenges will be to implement medium-term fiscal consolidation, mitigate pressures for real appreciation and inflation, restore the health of the banking system, and improve the investment climate through ambitious structural reforms,” the fund said today in a statement.