IMF cuts Russia 2014 growth forecast

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

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

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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.

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