Russian Capital Markets are better than ever


The Christian Science Monitor reports on Russian efforts to use a new sovereign wealth fund to expand Moscow’s role in global capital markets.

“Russian companies are increasingly investing abroad – a trend encouraged by Medvedev, who has pledged to make Russia ‘one of the world’s biggest financial centers’ once he takes over from his mentor, President Vladimir Putin.

Barely a decade ago, Russia’s economy was in tatters, best known for its astronomical rates of capital flight – up to $25 billion annually. But since Mr. Putin came to power eight years ago, a quiet turnaround has occurred that saw Russia take in a record $28 billion in direct foreign investment last year, according to state statistics.”

Read full story.

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