The Bank of Russia believes that the role of the yuan in reserve formation is key, and diversification of these assets with currencies of other countries is limited due to risks. This is stated in the message on the website. regulator.
“Possibilities for further diversification of reserve assets through currencies and financial instruments of non-friendly countries are limited due to the risks inherent in these currencies and economies. The Central Bank of the Russian Federation said that the exchange rates of these currencies are highly volatile, the liquidity of the markets is low, and in some such countries there are restrictions on the movement of capital, which is an obstacle to their use. In a statement.
Before reportedIt was stated that Russia’s foreign debt decreased by 17.7 percent to 316.8 billion dollars at the end of 2023, which is the lowest figure since 2007. In the January-December period, this figure decreased by 68.2 billion dollars. At the same time, the 12-month external debt of state institutions decreased by a third to 32.7 billion dollars, and external debts related to foreign currency government bonds decreased by 9.2% to 14.8 billion dollars. declined. It reached $16.537 billion, an increase of 41.2% compared to OFZ.
As of January 1, 2024, the debt burden of the Russian economy has decreased. Thus, the ratio of external debt to GDP decreased to 15.8 percent (-0.7 points), and the ratio of external debt obligations of state institutions to GDP decreased to 1.6 percent (-0.4 points).
Previously West warned About the decline in the role of the dollar after the seizure of Russian assets.