"Mr. Gerashchenko will have an office at the Central Bank. I don't think he will be involved in day-to-day policy making but he will advise us," the Central Bank's deputy chairman Alexander Khandruyev said.
Gerashchenko has a powerful base and many supporters among the conservative majority of parliament, who appreciate his support for ailing state industries.
Khandruyev also said the new acting Central Bank chairwoman Tatyana Paramonovna was appointed on Gerashchenko's recommendation.
"According to our semi-official information, Tatyana Paramanovna was recommended by Gerashchenko," he said.
Khandruyev welcomed her appointment, saying, "She is a professional. We need professionals like her at the Central Bank."
Paramonovna had initially threatened to quit if Gerashchenko was not reinstated.
Western economists respect Paramonovna as a professional who knows the budget and credit issues very well and who favors strict monetary policies.
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