Rus News Journal

The Central Bank of the Russian Federation - for soft softening of currency regulation

the Central bank of Russia adheres to a position stage-by-stage and soft softening of currency regulation.
it was declared today by the director of department of currency regulation of the Central Bank of the Russian Federation Vladimir Chistjuhin, acting at a meeting organised by the European business club in Russia. As he said, single cancellation of measures of currency regulation are a wrong and untimely measure.
Vladimir Chistjuhin has underlined that in the international practice practically at all states, except for Argentina, currency liberalisation occupied long time and was carried out only after essential macroeconomic stabilisation. According to the expert, Russia which tests now a lack of investments, should soften as much as possible the measures of currency control connected with attraction of the long-term capital. However Everything, as to a conclusion of the capital and its short-term overflow, should remain under control of state structures .
the Representative of the Central Bank has informed that on the basis of these principles of the Central Bank of the Russian Federation intends to build system of measures of currency regulation. Vladimir Chistjuhin also has specified that new edition of the law on currency regulation and currency control (it is accepted in 1993 and is by this time essentially obsolete) now prepares. Law processing is conducted in two basic directions: change the conceptual device and also transfer otsylochnyh norms in norms of direct action.