Loading...
See More

Russian finance minister ousted

Sep 26 2011 18:10 Reuters

Related Articles

'EU summit won't yield quick crisis fix'

Brics blast IMF's old habits

Brics to receive 10bn yuan in loans

'Size doesn't matter when you're a Bric'

Graft continues to bite Kremlin

Brics won't talk about yuan - China

 
Dimitrovgrad - Russian President Dmitry Medvedev accepted Finance Minister Alexei Kudrin’s resignation on Monday after the veteran finance minister and deputy prime minister refused to work in a government that Medvedev is expected to lead.

“I have resigned. My resignation was accepted,” Kudrin told Reuters.

Medvedev’s spokesperson said the president had signed Kudrin’s resignation papers.

The dismissal ends  the 11-year tenure of the fiscal hawk who rebuilt Russia’s finances after the trauma of the 1998 default and devaluation.

Following are comments from analysts on Kudrin’s departure:

Sergei Guriev, Rector, New Economic School in Moscow said he had “no clue” who might replace Kudrin. “He is unique as he understands economics (and) sticks to his principles.”

Yulia Tsepliayeva, economist at BNP Paribas in Moscow, said investors will take Kudrin’s resignation "extremely negatively... and capital outflows in this case would only accelerate”.

Alexei Devyatov, chief economist at Uralsib in Moscow: “There is no person who would be able to fully replace Kudrin at the moment - he is a professional who has proven himself at home and abroad.

“It is hard to say who may be appointed to replace him, maybe one of Kudrin’s deputies.”
dmitry medvedev  |  vladimir putin  |  russia  |  brics
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...