| From Bloomberg: The country’s Reserve Fund, a sovereign wealth fund comprised of extra oil revenue, dropped to $40.6 billion in July from $60.5 billion in December and the government may use about 75 percent of the fund this year to make up any budget shortfall, Deputy Finance Minister Dmitry Pankin said last month.
Russian bonds are trailing emerging- market debt for a seventh straight month, sending Prime Minister Vladimir Putin’s borrowing-cost advantage to near the lowest since October as falling oil prices curb economic growth...........................................Full Article: Source
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