IMF cuts Russia 2014 growth forecast - CNBC Africa

IMF cuts Russia 2014 growth forecast

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Russian ruble. PHOTO: Getty Images

The fund sees capital outflow of 100 billion US dollars this year, the IMF's mission chief to Russia said on Wednesday.

(READ MORE: Obama announces expanded sanctions on Russians over Ukraine)

Antonio Spilimbergo also told reporters that international sanctions imposed on Moscow over the crisis in Ukraine were hurting the Russian economy and threatened investment.

(WATCH VIDEO: How will S.Africa be impacted by Russia & Ukraine Standoff?)

He added that there were also further risks to the IMF's growth forecast for Russia in 2014 and that the Fund forecast 1 per cent growth for Russia in 2015.

 (WATCH VIDEO: Reflecting on the Russia/Ukraine saga)

 

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