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IMF recommends Russia to regard oil price drop as long-term factor

May 21, 2015, 17:55 UTC+3 MOSCOW
He added that in the near-term Russia has sizeable buffers including significant foreign international reserves, low public debt and a positive net international investment position
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© Artyom Geodakyan/TASS

MOSCOW, May 21. /TASS/. The Russian authorities should regard the drop in oil prices as a long term factor when planning the country’s economic policy, the IMF Russian mission head Ernesto Ramirez Rigo said at a conference on the Fund's work in Russia.

"In our view they will have to implement permanent measures to compensate for the permanent component of the drop in oil prices," Rigo said.

He added that in the near-term Russia has sizeable buffers including significant foreign international reserves, low public debt and a positive net international investment position.

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