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Governors of the Russian Central Bank

The current head of the Central Bank Elvira Nabiullina has been holding this post since June 24, 2013

© Pavel Smertin/TASS

MOSCOW, June 8. /TASS/. On June 9, 2017, the Russian State Duma will consider extending the term of office of the Russian Central Bank’s Governor Elvira Nabiullina. She has been holding this post since June 24, 2013 (1,445 days as of June 8, 2017) - the bank was headed longer only by Sergey Ignatiev and Vladimir Gerashchenko.

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Elvira Nabiullina’s achievements as head of Russia’s Central Bank

Georgy Matyukhin was the first Governor of the Central Bank. He served as Governor of the Central Bank of Russia for 141 days, from January 27, 1992 to June 16, 1992. He resigned because of health problems.

Vladimir Gerashchenko was the Central Bank’s Governor for 2,109 days: the first term - from July 17, 1992, to October 18, 1994, the second term - from September 11, 1998, to March 20, 2002. He led the regulator during its formation. The first time he was dismissed after the "black Tuesday" on October 11, 1994, when for one day the dollar rate increased by 27.84% - from 2,833 to 3,926 rubles.

He was then appointed again after the default of 1998. Under his leadership, the Central Bank managed to stabilize the ruble exchange rate, to restore the country's economy to growth. In 2002, he was dismissed upon a personal request.

Tatyana Paramonova was acting Governor of the Central Bank for 385 days, from October 19, 1994, to November 8, 1995. Her candidacy for the post was repeatedly submitted to the State Duma by the Russian President Boris Yeltsin, but was rejected by secret ballot.

Alexander Khandruev was acting Governor of the Central Bank for 14 days, on November 8-22, 1995, before the election of Sergey Dubinin.

Read also

Putin proposes extending term of Russia's Central Bank chief

Sergey Dubinin was Governor of the Central Bank for 1,054 days, from November 22, 1995, to October 11, 1998. The reason for his resignation was the technical default on state treasury bonds announced on August 17, 1998, which led to a sharp increase in the dollar rate from 6.5 to 20.83 ruble, as well as a threefold increase in prices. The weakening of the exchange rate continued for another 4 years.

Sergey Ignatiev was the regulator’s Governor for 4,113 days, from March 20, 2002 to June 23, 2013. During that time, an insurance system for bank deposits was developed, and the financial system, thanks to foreign exchange interventions of the regulator, relatively painlessly survived the global crisis of 2008-2009. Ignatiev resigned after occupying the post for the maximum three terms allowed by the law.

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Central Bank of Russia

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