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3 years ago
IMF halves Russia's 2015 GDP forecast to 0.5 pct, urges tighter monetary policy
October 1, 2014 / 12:07 PM / 3 years ago

IMF halves Russia's 2015 GDP forecast to 0.5 pct, urges tighter monetary policy

MOSCOW, Oct 1 (Reuters) - The International Monetary Fund halved its growth forecast for Russia for 2015 to 0.5 percent in gross domestic product terms on Wednesday, saying that uncertainty over geopolitical tensions brought downside risks to its estimates.

"Geopolitical uncertainties are having a big direct impact on the Russian economy," Antonio Spilimbergo, the IMF's mission head to Russia, told journalists.

The IMF also urged Russia's central bank to further tighten its monetary policy to anchor inflation expectations. (Reporting by Lidia Kelly, editing by Elizabeth Piper)

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