Russia is faced with rapidly rising inflation and falling natural gas exports.
Gallon of gas $2.81
Interest Rates 13%
Challenges Sinking natural gas and oil prices have shrunk exports. Russian banks have been hit particularly hard by the credit crisis because they hold significantly more in foreign debt than national assets. The rapidly declining ruble has some worried about out-of-control inflation.
Solutions The central bank set up a $50 billion lending facility for financial institutions in October. A month later, the government sent another $28 billion to banks. The central bank has also worked to lower interest rates to control inflation.
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Sources: IMF, national statistics offices, central banks, RTS stock exchanges, AIRINC