Issue 1085 - 16.06.2022
16.06.2022

Head of State makes appeal on occasion of Day of People’s April Revolution

President of Kyrgyzstan Sadyr Zhaparov made an appeal to the people of Kyrgyzstan on the occasion of the anniversary of the People's April Revolution.

The Kyrgyz president said that on April 7, 2010, courageous compatriots overthrew the corrupt government for the future of Kyrgyzstan.

‘The result of the April People's Revolution was the implementation of the principles of democracy and confident steps towards the further development of the state.

The Aksy events, the March and April people's revolutions became political and historically significant events. The world community has changed its perception of the Kyrgyz people, thereby recognizing their high moral qualities, such as honor, dignity, and appreciating their desire for freedom and justice.

The brave sons of the people, who dedicated their lives to the April people's revolution, the struggle for a bright future and the well-being of the next generation, are the heroes of the present.

No matter how much time passes, their fearlessness in the face of death will remain in the hearts of our people and, undoubtedly, their names will forever be inscribed in golden letters in the history of Kyrgyzstan,” he said.

The president stressed that the Kyrgyz people will never be deprived of faith in justice when they have such sons and daughters as the Heroes of April, who are ready to sacrifice themselves for the sake of freedom and the triumph of truth.

“The consciousness of our people has changed, and it will no longer deviate from its path, focusing on a brighter future.

Analyzing in depth the Aksy events, the March and April people's revolutions, drawing lessons from them, we will not allow any attempts to encroach on the will of the people.

We pay tribute to those who died on April 7, 2010.

May there be peace, unity and harmony in our people and in our country,” he noted.

The Day of People's April Revolution is a national holiday in the Kyrgyz Republic on April 7 each year.

About 100 people were killed and many hundreds injured on April 7, 2010 during the unrest and mass anti-government protests in Bishkek against government corruption and increased living expenses, which brought to President Kurmanbek Bakiyev to flee the country.

Reported by Kabar.

Kyrgyzstan General

16.06.2022

Kyrgyz president honors memory of April Revolution victims

President of Kyrgyzstan Sadyr Zhaparov honoured the memory of dead heroes of People's April Revolution.

The event took place on Thursday at the Ata-Beyit National Historical and Memorial Complex.

The president laid flowers at the memorial to the heroes of the April 2010 People's Revolution, after which a memorial prayer was read.

Further,...

President of Kyrgyzstan Sadyr Zhaparov honoured the memory of dead heroes of People's April Revolution.

The event took place on Thursday at the Ata-Beyit National Historical and Memorial Complex.

The president laid flowers at the memorial to the heroes of the April 2010 People's Revolution, after which a memorial prayer was read.

Further,...

16.06.2022

Sadyr Japarov and Shavkat Mirziyoyev talk over the phone

President of Kyrgyzstan Sadyr Japarov had a telephone conversation with the President of Uzbekistan Shavkat Mirziyoyev.

During the conversation, Shavkat Mirziyoyev congratulated Sadyr Japarov on the successful completion of negotiations with Centerra Gold on the status of Kumtor gold mine and signing of the relevant agreement. The parties discussed topical issues of Kyrgyz-Uzbek bilateral cooperation and exchanged views on issues on the...

President of Kyrgyzstan Sadyr Japarov had a telephone conversation with the President of Uzbekistan Shavkat Mirziyoyev.

During the conversation, Shavkat Mirziyoyev congratulated Sadyr Japarov on the successful completion of negotiations with Centerra Gold on the status of Kumtor gold mine and signing of the relevant agreement. The parties discussed topical issues of Kyrgyz-Uzbek bilateral cooperation and exchanged views on issues on the...

16.06.2022

Kyrgyz ambassador to UK presents copies of credentials to deputy director of protocol and assistant marshal of Diplomatic Corps

On April 6, Ambassador of the Kyrgyz Republic to the UK Ulan Dzhusupov presented copies of his credentials to Deputy Director of Protocol and Assistant Marshal of Diplomatic Corps of the UK Foreign Office Alison MacMillan, the Kyrgyz Foreign Ministry reported.

During the introductory conversation, Dzhusupov thanked for the warm welcome...

On April 6, Ambassador of the Kyrgyz Republic to the UK Ulan Dzhusupov presented copies of his credentials to Deputy Director of Protocol and Assistant Marshal of Diplomatic Corps of the UK Foreign Office Alison MacMillan, the Kyrgyz Foreign Ministry reported.

During the introductory conversation, Dzhusupov thanked for the warm welcome...

16.06.2022

18th meeting of Committee for Cooperation between Kyrgyzstan and EU held in Bishkek

The 18th meeting of the Committee for Cooperation between the Kyrgyz Republic and the European Union was held in Bishkek on Wednesday, the press service of the Kyrgyz Ministry of Foreign Affairs reported.

The delegation of the Kyrgyz Republic was headed by Deputy Minister of Foreign Affairs Aibek Moldogaziev, the delegation...

The 18th meeting of the Committee for Cooperation between the Kyrgyz Republic and the European Union was held in Bishkek on Wednesday, the press service of the Kyrgyz Ministry of Foreign Affairs reported.

The delegation of the Kyrgyz Republic was headed by Deputy Minister of Foreign Affairs Aibek Moldogaziev, the delegation...

16.06.2022

Permanent Rep of Kyrgyzstan to UN meets with High Rep of UN Secretary General for Disarmament Affairs

Permanent Representative of the Kyrgyz Republic to the UN Aida Kasymalieva met with Deputy Secretary General of the UN, High Representative of the UN Secretary General for Disarmament Affairs Izumi Nakamitsu.

During the meeting, the sides exchanged views on cooperation between Kyrgyzstan and the UN Office for Disarmament Affairs, the press...

Permanent Representative of the Kyrgyz Republic to the UN Aida Kasymalieva met with Deputy Secretary General of the UN, High Representative of the UN Secretary General for Disarmament Affairs Izumi Nakamitsu.

During the meeting, the sides exchanged views on cooperation between Kyrgyzstan and the UN Office for Disarmament Affairs, the press...

Finance and Investment

16.06.2022

EU allocates €32 million for education system in Kyrgyzstan

The European Union allocates €32 million to support the education system of Kyrgyzstan. Press service of the Ministry of Education and Science reported.

According to it, signing of a financial agreement between the Kyrgyz Republic and the European Union under the program «Contract for reforms in the education sector» has taken place.

«The European Union will provide a grant to the Ministry...

The European Union allocates €32 million to support the education system of Kyrgyzstan. Press service of the Ministry of Education and Science reported.

According to it, signing of a financial agreement between the Kyrgyz Republic and the European Union under the program «Contract for reforms in the education sector» has taken place.

«The European Union will provide a grant to the Ministry...

16.06.2022

Greenback retains bulls on US Federal Reserve intervention

Currency bid prices at 3:33PM (1933 GMT)

Description      RIC         Last           U.S. Close  Pct Change     YTD Pct       High Bid    Low Bid Previous                   Change Session Dollar index                 99.8130        99.8660     -0.04%         4.338%        +100.1900   +99.7430 Euro/Dollar                  $1.0876        $1.0881     -0.04%         -4.32%        +$1.0892    +$1.0837 Dollar/Yen                   124.3450       123.9750    +0.31%         +8.03%        +124.6700   +123.6600 Euro/Yen                     135.25         134.86      +0.29%         +3.78%        +135.3600  ...

Currency bid prices at 3:33PM (1933 GMT)

Description      RIC         Last           U.S. Close  Pct Change     YTD Pct       High Bid    Low Bid Previous                   Change Session Dollar index                 99.8130        99.8660     -0.04%         4.338%        +100.1900   +99.7430 Euro/Dollar                  $1.0876        $1.0881     -0.04%         -4.32%        +$1.0892    +$1.0837 Dollar/Yen                   124.3450       123.9750    +0.31%         +8.03%        +124.6700   +123.6600 Euro/Yen                     135.25         134.86      +0.29%         +3.78%        +135.3600  ...

16.06.2022

Stock markets regain strength as trade gets used to warfare

European shares held gains on Friday at the end of a volatile week dominated by the war in Ukraine.

The pan-regional Stoxx 600 index gained 1.31% 0.4% to 460.97, and the FTSE Mib was up 2.13%. All major continental bourses posted strong gains.

In Washington, the US Congress voted to revoke...

European shares held gains on Friday at the end of a volatile week dominated by the war in Ukraine.

The pan-regional Stoxx 600 index gained 1.31% 0.4% to 460.97, and the FTSE Mib was up 2.13%. All major continental bourses posted strong gains.

In Washington, the US Congress voted to revoke Russia's trade status...

Metals and Minerals

16.06.2022

Deputy secretary-general of UN congratulates Kyrgyzstan on agreement on Kumtor gold mine

Deputy Chairman of the Cabinet of Ministers of Kyrgyzstan Edil Baisalov, as part of a working trip to Geneva (Swiss Confederation), met with Amina J. Mohammed, the Deputy Secretary-General of the United Nations via videoconferencing.

During the conversation, the UN deputy secretary-general congratulated the Kyrgyz people on the conclusion of a...

Deputy Chairman of the Cabinet of Ministers of Kyrgyzstan Edil Baisalov, as part of a working trip to Geneva (Swiss Confederation), met with Amina J. Mohammed, the Deputy Secretary-General of the United Nations via videoconferencing.

During the conversation, the UN deputy secretary-general congratulated the Kyrgyz people on the conclusion of a...

16.06.2022

UN comments on signing of peace agreement between Kyrgyzstan and Centerra on Kumtor gold mine

The UN commented on the signing of a peace agreement between Kyrgyzstan and Centerra Gold Inc on the Kumtor mine, the press service of the Ministry of Foreign Affairs of the Kyrgyz Republic reported.

Farhan Haq, Deputy Spokesperson for the UN Secretary General during his press conference said that the UN...

The UN commented on the signing of a peace agreement between Kyrgyzstan and Centerra Gold Inc on the Kumtor mine, the press service of the Ministry of Foreign Affairs of the Kyrgyz Republic reported.

Farhan Haq, Deputy Spokesperson for the UN Secretary General during his press conference said that the UN...

16.06.2022

Congratulations of UN ECOSOC head on agreement on Kumtor gold mine

Permeated Representative of Kyrgyzstan to the United Nations in New York Aida Kasymalieva met with Collen Vixen Kelapile, the President of the Economic and Social Council (ECOSOC).

The UN ECOSOC, along with the General Assembly and the Security Council, is also one of the UN statutory bodies.

During the meeting, the ECOSOS...

Permeated Representative of Kyrgyzstan to the United Nations in New York Aida Kasymalieva met with Collen Vixen Kelapile, the President of the Economic and Social Council (ECOSOC).

The UN ECOSOC, along with the General Assembly and the Security Council, is also one of the UN statutory bodies.

During the meeting, the ECOSOS...

16.06.2022

Cabinet of Ministers interested in Mongolia’s experience in mining industry

Chairman of the Cabinet of Ministers of Kyrgyzstan Akylbek Japarov held a meeting with representatives of Mongolia to study the experience of reforms in the mining and geological industry. Press service of the Cabinet reported.

The parties discussed development of the mining industry, use of international systems in the inventory of minerals, streamlining of legislation in the mining sector, as well as international reporting standards for geological exploration.

The...

Chairman of the Cabinet of Ministers of Kyrgyzstan Akylbek Japarov held a meeting with representatives of Mongolia to study the experience of reforms in the mining and geological industry. Press service of the Cabinet reported.

The parties discussed development of the mining industry, use of international systems in the inventory of minerals, streamlining of legislation in the mining sector, as well as international reporting standards for geological exploration.

The...

Energy Industry

16.06.2022

Kyrgyzstan's energy sector becomes brake for development

«Instead of being a locomotive, Kyrgyzstan’s energy sector has become a brake for development,» the World Bank Regional Director for Central Asia Tatiana Proskuryakova said at the Bishkek Energy Forum on April 7.

According to her, reform of the energy sector in Kyrgyzstan is an overdue and urgently needed issue. This sector is the engine of growth in many countries. Kyrgyzstan has good...

«Instead of being a locomotive, Kyrgyzstan’s energy sector has become a brake for development,» the World Bank Regional Director for Central Asia Tatiana Proskuryakova said at the Bishkek Energy Forum on April 7.

According to her, reform of the energy sector in Kyrgyzstan is an overdue and urgently needed issue. This sector is the engine of growth in many countries. Kyrgyzstan has good...

16.06.2022

Agreement on construction of solar station in Issyk-Kul region signed

Ceremony of signing an investment agreement on construction of a solar power plant of 1,000 megawatts in Issyk-Kul region took place in Kyrgyzstan. Press service of the Cabinet of Ministers reported.

The document was signed between the Cabinet of Ministers represented by the Minister of Energy Doskul Bekmurzaev and the Minister of Economy and Commerce Daniyar Amangeldiev and the Chinese energy consortium consisting of China Power...

Ceremony of signing an investment agreement on construction of a solar power plant of 1,000 megawatts in Issyk-Kul region took place in Kyrgyzstan. Press service of the Cabinet of Ministers reported.

The document was signed between the Cabinet of Ministers represented by the Minister of Energy Doskul Bekmurzaev and the Minister of Economy and Commerce Daniyar Amangeldiev and the Chinese energy consortium consisting of China Power...

16.06.2022

Workers of Bishkek HPP hold rally against opening of mining farm

Employees of the Bishkek Heating and Power Plant (HPP) held a rally today. They say that the authorities want to allocate a part of the territory of the HPP for opening of a mining farm.

«We want to stop this. For more than two weeks, there have been conversations that employees will be relocated to another place. We can’t understand anything, there is no justified reason....

Employees of the Bishkek Heating and Power Plant (HPP) held a rally today. They say that the authorities want to allocate a part of the territory of the HPP for opening of a mining farm.

«We want to stop this. For more than two weeks, there have been conversations that employees will be relocated to another place. We can’t understand anything, there is no justified reason....

Trade and Consumer Goods

16.06.2022

Made in Kyrgyzstan brand becomes popular among Russians

Kyrgyz clothing brand Made in Kyrgyzstan is becoming more popular among Russians. Deputy Trade Representative of the Russian Federation in the Kyrgyz Republic Ainur Samanov announced at the Kyrgyz-Russian Women’s Forum «Opportunities and Prospects of Textile Industry».

According to him, the trade turnover between the two countries increased by 45 percent. Supplies of textile products from Kyrgyzstan to Russia take the third...

Kyrgyz clothing brand Made in Kyrgyzstan is becoming more popular among Russians. Deputy Trade Representative of the Russian Federation in the Kyrgyz Republic Ainur Samanov announced at the Kyrgyz-Russian Women’s Forum «Opportunities and Prospects of Textile Industry».

According to him, the trade turnover between the two countries increased by 45 percent. Supplies of textile products from Kyrgyzstan to Russia take the third...

Agriculture

16.06.2022

26 billion soms allocated to ensure food security in Kyrgyzstan

At least 26 billion soms have been allocated from the republican budget this year to ensure food security in Kyrgyzstan. Mirbek Duisheev, head of the Expenditure Planning Department of the Ministry of Finance, told at a press conference in Bishkek.

«Out of 26 billion soms, 1.5 billion were allocated for the purchase of seeds, 975 million soms — for fertilizers, more than 2 million for the...

At least 26 billion soms have been allocated from the republican budget this year to ensure food security in Kyrgyzstan. Mirbek Duisheev, head of the Expenditure Planning Department of the Ministry of Finance, told at a press conference in Bishkek.

«Out of 26 billion soms, 1.5 billion were allocated for the purchase of seeds, 975 million soms — for fertilizers, more than 2 million for the...

16.06.2022

10 billion soms to be allocated for preferential lending to farmers

At least 10 billion soms will be allocated from the budget of Kyrgyzstan for preferential lending to farmers. The First Deputy Minister of Agriculture Nurdin Alisherov announced at a press conference in Bishkek.

«Loans at a preferential rate of 6 percent per annum will be issued to farmers and agricultural producers through state-owned banks as part of Lending to Agro-Industrial Complex project. At least 4.5 billion soms will be issued through...

At least 10 billion soms will be allocated from the budget of Kyrgyzstan for preferential lending to farmers. The First Deputy Minister of Agriculture Nurdin Alisherov announced at a press conference in Bishkek.

«Loans at a preferential rate of 6 percent per annum will be issued to farmers and agricultural producers through state-owned banks as part of Lending to Agro-Industrial Complex project. At least 4.5 billion soms will be issued through...

16.06.2022

33,200 tons of grain sent from Novosibirsk to Kyrgyzstan in 2022

At least 33,200 tons of grain and products of its processing have been sent from Novosibirsk Oblast of Russia to Kyrgyzstan from January to April 2022. The Department of Rosselkhoznadzor for the region reported.

According to it, a total of 245,000 tons of grain were imported to Asian countries (Kyrgyzstan, Kazakhstan, China, Bangladesh, Pakistan and Malaysia).

The Department of Rosselkhoznadzor controlled the shipment of wheat, barley,...

At least 33,200 tons of grain and products of its processing have been sent from Novosibirsk Oblast of Russia to Kyrgyzstan from January to April 2022. The Department of Rosselkhoznadzor for the region reported.

According to it, a total of 245,000 tons of grain were imported to Asian countries (Kyrgyzstan, Kazakhstan, China, Bangladesh, Pakistan and Malaysia).

The Department of Rosselkhoznadzor controlled the shipment of wheat, barley,...

Manufacturing industry

16.06.2022

Slovakia plans to manufacture auto parts and electronics in Kyrgyzstan

Bishkek will host a Kyrgyz-Slovak Business Forum in the third quarter of 2022. The Agency for Investment and Development reported.

According to its data, Director of the agency Ravshan Sabirov met with the Ambassador Extraordinary and Plenipotentiary of Slovakia Milan Kollar. They discussed prospects for economic cooperation to increase trade turnover.

Interest was shown in locating Slovak production of electronics, glass,...

Bishkek will host a Kyrgyz-Slovak Business Forum in the third quarter of 2022. The Agency for Investment and Development reported.

According to its data, Director of the agency Ravshan Sabirov met with the Ambassador Extraordinary and Plenipotentiary of Slovakia Milan Kollar. They discussed prospects for economic cooperation to increase trade turnover.

Interest was shown in locating Slovak production of electronics, glass,...

Oil and Gas Sector

16.06.2022

Brent barely tops $100/b on crude release scheme

Oil prices were stable on Friday but remained on course for a second weekly fall after countries announced plans to release crude from their strategic stocks.

Brent crude futures were down 30 cents, or 0.3%, at $100.28 a barrel by 1333 GMT. U.S. West Texas Intermediate (WTI) crude futures fell 4...

Oil prices were stable on Friday but remained on course for a second weekly fall after countries announced plans to release crude from their strategic stocks.

Brent crude futures were down 30 cents, or 0.3%, at $100.28 a barrel by 1333 GMT. U.S. West Texas Intermediate (WTI) crude futures fell 4...

16.06.2022

Eurasian natural gas benchmarks veer up with Russian supplies hanging in the air

British and Dutch gas prices rose on Friday morning with low wind power output increasing gas-for-power demand and as concerns built over possible sanctions on imports of Russian gas to Europe in response to the war in Ukraine.

In the British gas market, the day-ahead price was 5.00 pence higher at...

British and Dutch gas prices rose on Friday morning with low wind power output increasing gas-for-power demand and as concerns built over possible sanctions on imports of Russian gas to Europe in response to the war in Ukraine.

In the British gas market, the day-ahead price was 5.00 pence higher at...

Communications and Transportation

16.06.2022

Bishkek hosts 6th meeting of heads of Border Services of CIS member states

The 6th regional meeting of the heads of border agencies of the CIS member states was held in Bishkek, the press service of the Border Service of the State Committee for National Security of Kyrgyzstan reported.

The regional forum was attended by delegations from 5 border agencies of the Commonwealth states:...

The 6th regional meeting of the heads of border agencies of the CIS member states was held in Bishkek, the press service of the Border Service of the State Committee for National Security of Kyrgyzstan reported.

The regional forum was attended by delegations from 5 border agencies of the Commonwealth states:...

16.06.2022

Kazakhstan to open land border crossing points with Kyrgyzstan from April 11

From April 11, Kazakhstan will open land border crossing points for Kyrgyzstan, Ambassador of the Kyrgyz Republic to the Republic of Kazakhstan Dastan Dyushekeyev said.

He said that the Interdepartmental Commission for Preventing the Spread of Coronavirus Infection on the Territory of Kazakhstan decided to lift restrictions on the crossing of...

From April 11, Kazakhstan will open land border crossing points for Kyrgyzstan, Ambassador of the Kyrgyz Republic to the Republic of Kazakhstan Dastan Dyushekeyev said.

He said that the Interdepartmental Commission for Preventing the Spread of Coronavirus Infection on the Territory of Kazakhstan decided to lift restrictions on the crossing of...

16.06.2022

Balykchy - Kochkor - Kara-Keche railway to be completed by 2030

The length of Balykchy — Kochkor — Kara-Keche railway will be 186 kilometers. The Deputy General Director of Kyrgyz Temir Zholu state enterprise Abdes Anarbekov told at a briefing.

According to him, more than 500 meters have already been laid. The contractor is Mostootryad.

«We hope to complete all the work by 2030. We will also consider the option of taking loans to complete the construction of the road...

The length of Balykchy — Kochkor — Kara-Keche railway will be 186 kilometers. The Deputy General Director of Kyrgyz Temir Zholu state enterprise Abdes Anarbekov told at a briefing.

According to him, more than 500 meters have already been laid. The contractor is Mostootryad.

«We hope to complete all the work by 2030. We will also consider the option of taking loans to complete the construction of the road...

16.06.2022

Additional flights to Bishkek opened from Moscow and Yekaterinburg

Additional flights to Bishkek were opened from Moscow and Yekaterinburg. Manas airport reported.

The flights are operated by Ural Airlines. From April 6, Yekaterinburg — Bishkek — Yekaterinburg flight is operated twice a week (on Wednesdays and Saturdays).

From April 7, Moscow — Bishkek — Moscow flight is operated three times a week (on Mondays, Wednesdays, Thursdays).

By Ruslan Kharizov for 24.kg.

...

Additional flights to Bishkek were opened from Moscow and Yekaterinburg. Manas airport reported.

The flights are operated by Ural Airlines. From April 6, Yekaterinburg — Bishkek — Yekaterinburg flight is operated twice a week (on Wednesdays and Saturdays).

From April 7, Moscow — Bishkek — Moscow flight is operated three times a week (on Mondays, Wednesdays, Thursdays).

By Ruslan Kharizov for 24.kg.

...

Education and Science

16.06.2022

Kyrgyzstan develops project of 12-year education in schools

Drastic modernization of education will take place at all levels of the educational system starting from 2022 and 2023-2024 academic years. Kut Bilim reports.

According to it, there are nine main points that await changes.

«First of all, the 12-year education model will be introduced. A draft has already been developed, but there are some details that...

Drastic modernization of education will take place at all levels of the educational system starting from 2022 and 2023-2024 academic years. Kut Bilim reports.

According to it, there are nine main points that await changes.

«First of all, the 12-year education model will be introduced. A draft has already been developed, but there are some details that are related to financing....

People and Professional Development

16.06.2022

Ambassador of Kyrgyzstan to Uzbekistan appointed

Musa Dzhamanbaev has been appointed an Ambassador of Kyrgyzstan to Uzbekistan. Press service of the President reported.

Sadyr Japarov signed a corresponding decree.

Earlier, Musa Dzhamanbaev headed the Protocol Service of the head of state.

By Darya Podolskaya for 24.kg.

...

Musa Dzhamanbaev has been appointed an Ambassador of Kyrgyzstan to Uzbekistan. Press service of the President reported.

Sadyr Japarov signed a corresponding decree.

Earlier, Musa Dzhamanbaev headed the Protocol Service of the head of state.

By Darya Podolskaya for 24.kg.

...

Regional News

16.06.2022

Sanctions push BRICS states towards closer ties

Ukraine-related Western sanctions are pushing BRICS countries into closer economic cooperation at an accelerated pace, Russian Finance Minister Anton Siluanov said on Saturday during the first meeting of finance ministers and central bank governors of the BRICS countries, chaired by China.

According to the finance minister, the “current crisis is man-made,”...

Ukraine-related Western sanctions are pushing BRICS countries into closer economic cooperation at an accelerated pace, Russian Finance Minister Anton Siluanov said on Saturday during the first meeting of finance ministers and central bank governors of the BRICS countries, chaired by China.

According to the finance minister, the “current crisis is man-made,”...

16.06.2022

Russia adds billions to emergency spending fund

Russia has increased its reserve fund used for emergency spending by 273.4 billion rubles ($3.52 billion), the government announced on Sunday.

“The funds, among other things, will be used to implement measures aimed at ensuring economic stability in the light of external sanctions,” the press service of the Cabinet of Ministers...

Russia has increased its reserve fund used for emergency spending by 273.4 billion rubles ($3.52 billion), the government announced on Sunday.

“The funds, among other things, will be used to implement measures aimed at ensuring economic stability in the light of external sanctions,” the press service of the Cabinet of Ministers...

16.06.2022

Russia cuts base interest rate

The Russian central bank sharply cut its key rate to 17% on Friday and said future cuts were possible, as emergency steps had contained the risk to financial stability, brought deposits back to banks and helped limit the threat of inflation, it said.

Last month, the central bank kept its key...

The Russian central bank sharply cut its key rate to 17% on Friday and said future cuts were possible, as emergency steps had contained the risk to financial stability, brought deposits back to banks and helped limit the threat of inflation, it said.

Last month, the central bank kept its key...

16.06.2022

Russia eases rules on foreign currency

The Bank of Russia is lifting temporary capital control measures that banned individuals from buying foreign currency, the central bank said in a statement on its website on Friday.

Starting April 18, Russian citizens will once again be allowed to buy foreign currency at banks, as well as withdraw funds from...

The Bank of Russia is lifting temporary capital control measures that banned individuals from buying foreign currency, the central bank said in a statement on its website on Friday.

Starting April 18, Russian citizens will once again be allowed to buy foreign currency at banks, as well as withdraw funds from...

16.06.2022

Russia's forex reserves return to growth

Russia's foreign currency reserves increased by $2.1 billion, or 0.3%, in the week ending April 1, the Bank of Russia announced on Friday. The country's forex holdings amounted to $606.5 billion, data published on the website of the regulator shows.

The central bank regularly publishes updates on its reserves with a...

Russia's foreign currency reserves increased by $2.1 billion, or 0.3%, in the week ending April 1, the Bank of Russia announced on Friday. The country's forex holdings amounted to $606.5 billion, data published on the website of the regulator shows.

The central bank regularly publishes updates on its reserves with a...

16.06.2022

Russia adjusts gold buying strategy

The Bank of Russia has amended its gold buying method due to the strengthening of the domestic currency and will now buy the precious metal at a “negotiated price,” the regulator said in a press release on Thursday. The policy becomes effective on Friday, April 8.

On March 25, the central...

The Bank of Russia has amended its gold buying method due to the strengthening of the domestic currency and will now buy the precious metal at a “negotiated price,” the regulator said in a press release on Thursday. The policy becomes effective on Friday, April 8.

On March 25, the central...