06.02.2015 - Russia's 'anti-crisis' fund has little to spare
As Russia grapples with plunging oil prices and Western sanctions, attention is focusing on a $74 billion National Wealth Fund used to help the country weather crises. The NWF was used heavily in 2009 to fund emergency measures for banks and companies during the economic downturn, and it has been tapped in recent months to help firms cope with sanctions imposed over the Ukraine conflict - leading some to dub it an "anti-crisis fund". Last week, Russia announced a $35 billion "anti-crisis" spending plan to help the economy. But conflicting government statements have sown confusion about how exactly Moscow will finance the new measures as the country heads for recession and companies struggle to refinance their debts...............................................Full Article: Source
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