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Gov't denies looming crisis in Russia
RBC, 19.03.2008, Moscow 17:53:13.The government is not anticipating a crisis situation in Russia in 2008, Deputy PM and Finance Minister Alexei Kudrin announced while speaking at the State Duma today. The official stressed that a short-term liquidity crisis would be compensated for by the Central Bank, saying that the Bank of Russia and the government had enough funds to ensure the Russian financial system's stability amid expectations of further write-downs by international companies. According to Kudrin, such write-downs have already amounted to $190bn by the end of February, with analysts estimating the figure to reach $400bn. As the crisis is now at its peak, and is yet to continue, the country's financial system cannot be placed under stress of drastic decisions, the Minister added.
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