The head of the IMF are unable to help Putin by the Council for the revitalization of the Russian banking system
Russian President Vladimir Putin in conversation with IMF head Christine Lagarde at the APEC summit in Peru expressed concern at the passivity of the Russian banking system. At the request of the head of state to offer specific advice to remedy the situation, Lagarde did not answer, but praised the Russian authorities for maintaining stability amid challenging political and economic circumstances, reports RIA “Novosti”.
“The banking system is stable, but somehow she is very very passive and inactive credit to the economy, there is no contribution of the banking system in economic growth. He asked if she had any ideas of actions”, – quoted the President, Deputy economic development Minister Stanislas the resurrection at the meeting with journalists.
According to him, Lagarde left the answer to this question, noting that in each case it is necessary to consider specificity of the country and to discuss the situation in more detail.
The President also asked whether the power of the IMF to assess how the Central Bank and the government to maintain macroeconomic stability. Lagarde replied that the management of Bank of Russia “has done a fantastic job.”
Putin also called for greater efforts to combat the shadow banking sector and tax evasion. “Everyone is talking about the problem of the shadow banking sector, but, in his view, little is done and leaders need to take more interest,” said Voskresensky.
Note that at the summit, leaders will adopt a Declaration which will reflect the agreed approaches of APEC economies on development cooperation. The paper also will assess the current regional and global economic situation.