No drawdowns from Russia's Reserve Fund in July

No drawdowns from Russia's Reserve Fund in July
Russia gross international reserves remained unchanged in July
By bne IntelliNews August 4, 2016

​Russia's Ministry of Finance reported no changes – ie. no drawdowns – to the Reserve Fund in July. So far, RUB780bn ($11.8bn) from the Fund has been spent this year (in April and May). In 2015, the drawdown for the whole year was RUB2.2tn.

The Reserve Fund balance as of August 1 was RUB2.6tn ($39bn). The National Welfare Fund stands at RUB5.2tn ($79bn). Of this, approximately two-thirds is liquid cash balances with the Bank of Russia, and the remainder is various investments in Russian corporates, banks, as well as Ukraine’s defaulted $3bn Eurobond.

 

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