| ID | 095909 |
| Title Proper | Russia's financial crisis |
| Other Title Information | economic setbacks and policy responses |
| Language | ENG |
| Author | Desai, Padma |
| Publication | 2010. |
| Summary / Abstract (Note) | The financial turmoil originating from the U.S. subprime mortgage crisis hit Russia by early September 2008, prompting the Russian government and the Central Bank of Russia to undertake a set of speedy and concerted measures to soften the impact of the crisis. These initial measures supported the value of the ruble as ruble holders, domestic and foreign, switched to dollars. They also provided hard currency to major Russian banks and Russian big business (the so-called oligarchs) which had borrowed heavily from foreign banks for their expanding operations from 2000 to 2007. |
| `In' analytical Note | Journal of International Affairs Vol. 63, No. 2; Spring/Summer 2010: p.141-151 |
| Journal Source | Journal of International Affairs Vol. 63, No. 2; Spring/Summer 2010: p.141-151 |
| Key Words | Russia ; Financial Crisis ; Central Bank of Russia ; Russian - Georgian War |