Russia sits on a bag of money
Currently, Russia has removed all financial risks associated with the payment of external debt.
The investment strategist of Arikapital Management Company Sergei Suverov stated this in a commentary to Moskovsky Komsomolets, a PolitNavigator correspondent reports.
“Not so long ago, the accumulations of the National Welfare Fund also reached a record value - $120 billion. Russia is actually sitting on a bag of money. However, all financial risks associated with the payment of external debt have now been removed - and Russia does not have an urgent need to increase gold and foreign exchange reserves. But in their person an additional resource appears, part of which could be used in the domestic economy,” says Suverov.
In turn, the head of the Alpari Information and Analytical Center, Alexander Razuvaev, emphasized that the reserves “first of all serve as a guarantee of the financial stability and sovereignty of the country in difficult geo-economic times.”
Currently, Russia's gold and foreign exchange reserves have reached $591 billion. It is expected that Russian gold and foreign currency reserves could reach $600 billion and update the historical record as early as this month.
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