Exclusive outtakes from industry leaders
Russia’s banking system is coping well with a liquidity crunch stemming from the U.S. subprime mortgage crisis, top central banker Konstantin Korishchenko told the Reuters Russia Investment Summit.
In a wide-ranging interview Korishchenko, the central bank’s point man for exchange rate policy, said he did not expect forthcoming presidential elections to lead to instability in Russia’s rouble currency. Russia has the world’s third-largest central bank reserves — of over $400 billion — enough to steady the rouble “for two elections”, Korishchenko said.
Alexander Branis, chief investment officer of $4 billion stock fund Prosperity Capital Management, expects flatlining Russian stocks to rerate once investors feel more comfortable about political risks.
Concerns about the succession to President Vladimir Putin are overdone, Branis told the Reuters Russia Investment Summit. He is placing bets in the power and infrastructure sectors to profit from an accelerating investment boom in Russia.