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IMF Cuts Russia GDP Forecast in Half to 0.5%

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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.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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