Contents tagged with capital outflow
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National Bank of Ukraine strengthened measures to prevent capital outflow to Russia
The National Bank of Ukraine (NBU) has tightened measures to prevent capital flows to the Russian Federation, according to the central bank's website.
The statement outlined that "from now on, the National Bank has the right to refuse to issue individual licenses for certain foreign exchange transactions, if information in submitted documents reveals that either the participant or the person in whose favor the operation is carried out is a person who resides in a country that is recognized by …
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Capital outflow from Russia intensifies
Capital outflow from Russia continues unabated. According to the Central Bank of Russia, the total remittances of individuals into other countries amounted to USD 6.2 billion in the third quarter for a total of USD 18.5 billion since the start of the year. In comparison, private individuals had withdrawn 18.57 billion dollars during the entire 2015.
Switzerland remains the most popular country for Russians to keep money. In the third quarter of 2016, 984 million dollars were transferred there …
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Russia will Lose an Estimated $60 Billion in 2016- Bank of Russia
Russia’s net capital outflow from January to November 2015 amounted to an estimated $53 billion. Experts believe that the outflow of capital from Russia in 2016 could reach nearly $60 billion. This forecast was announced by the head of the Department of Monetary Policy of the Bank of Russia, Igor Dmitriev, at the Gaidar Forum 2016, as reported by TASS.
"We don't expect a significant capital outflow in the coming year. Even under the risk scenario, it will be close to our 2015 numbers, about 60 …