Russian Federation - Technical Note on Stress Testing of the Banking Sector (Electronic book text)

In the wake of the global financial crisis, the Russian economy has been hit hard by dual shocks-a collapse in oil prices and a sudden reversal of capital flows. Real GDP contracted sharply in the first quarter, as Russia's investment boom came to an abrupt end. As a result, inflation pressures are easing. More recently, although rising oil prices and renewed capital inflows have provided some support to the ruble, the economy has continued to falter.