Support The Moscow Times!

Excess Liquidity Ending

Russian lenders lack access to long-term financing, said Central Bank First Deputy Chairman Gennady Melikyan.

"We don't have the infrastructure that is used abroad to provide banks with long-term money," Melikyan said Friday at a conference in St. Petersburg. "The period when we had excess liquidity appears to be nearing the end."

The government and the economy at large are responsible for providing long-term funds to lenders, not the Central Bank, he said.

(Bloomberg)

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.