Sources: economist Guriev talks about working in a Bank EBRD


MOSCOW, October 14. Russian economist Sergei Guriev talks about the appointment of the chief economist European Bank for reconstruction and development (EBRD) is Swede Erik berglöf. This was told by sources familiar with the situation.

Previously the Agency Bloomberg with reference to unnamed sources reported that Guriev was soon to be appointed to this position. The representative of the EBRD refused to comment on this information. Guriev himself was unavailable for comment. If this appointment happens, Guriev will be the first Russian who will occupy the post of chief economist of the Bank.

Guriev 2004 and 2013 he worked as a rector of the Russian economic school, was part of a series of expert councils and commissions under the President and the government, as well as in the composition of the Supervisory Board of Sberbank. In 2013 he left Russia and moved to France. According to the economist, his departure was connected with the risks caused by the work on preparation of the expert report on the Yukos case, in which the guilt of the company’s management on tax crimes has been questioned.

The President of Russia Vladimir Putin, speaking on October 1 at the meeting of the Council for human rights, said that Russia would welcome the return of economist Sergei Guriev, and his departure abroad could not be linked with claims from the authorities. He stressed that claims to Guriev, no one was charged, and called the economist intelligent man and a good specialist.

The EBRD was established in 1991 to promote the development of a market economy in the countries of the former socialist camp. Currently the EBRD shareholders are 64 countries, the EU and the European investment Bank (financial institution of the European Union for financing the development of underdeveloped European regions in the form of long-term loans).

Russia is a member of EBRD since 1992. Until recently, the country accounted for about a third of the total operations of the Bank. Just 1992-2014, Russia had financed about 800 projects in excess of 24 billion euros.

Chief economist at the EBRD is responsible for economic research and forecasts, included in the Committee of top managers of the Bank, reporting directly to the President of the EBRD. Berglof has left the Bank in the end of 2014.

In July 2014 the EBRD took a decision on “temporary suspension” of funding for new projects in Russia. The decision was taken at the initiative of shareholders of the Bank from the EU due to the introduction of anti-Russian sanctions.

At the last meeting of the EBRD Board of governors in may 2015, the Russian delegation expressed disappointment that the EBRD was involved in the sanctions debate, and is used for political pressure. The Russian delegation also voted against a new financial plan for 2016-2020 due to the fact that it bypasses the issue of resuming the work with new projects in Russia.