The IMF will prepare this year’s assessment of financial system of Russia

The IMF will prepare this year’s assessment of financial system of Russia

WASHINGTON, January 16. /Corr. Ivan Lebedev/. Experts from the International monetary Fund (IMF) prepare in 2016 assessment of financial system of Russia and some other countries, occupying an important position in the world economy or in the region. This was reported on Friday the press service of the IMF, pojasnila that such a review will be conducted on the basis of a special programme, approved by the Fund’s management after the 2008 crisis.

“In accordance with the Programme of financial sector assessment the IMF assesses large systemically important countries such as Germany and the UK, but also middle size and in some cases important regional financial systems in Russia and Mexico,” – said the press service.

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According to her, in preparing their reports, the experts of the Foundation are focusing on “three key components of financial stability in all countries”: the soundness of banks and other major financial institutions, the quality of supervision of the financial system and its ability to withstand serious shocks. In addition, in 2016 special attention will be paid to systemic risks and prudent macroeconomic policies.

“In Russia it will assess the impact on the financial sector weak economic growth, low oil prices and instability in the exchange rate of the currency in the face of continuing Western sanctions. Will also analyze the ability of the financial sector to support sustainable growth, which will require comprehensive reforms in order to ensure its stability and efficiency”, – said the press service of IMF.

She said that at first the leadership of the Foundation were selected from 25 countries, financial systems are subject to mandatory monitoring, but in 2014 the list was expanded to 29. The IMF experts should carry out their assessment every five years. In 2016, besides Russia, will be analyzed the condition of financial systems of China, great Britain, Germany, Ireland, Sweden, Turkey and Lebanon. In 2015 this work was carried out, in particular, in the USA, Norway, Bosnia and Herzegovina, Azerbaijan, Tajikistan and in some other countries.