WASHINGTON, July 22. /TASS/. The successful policy of the Russian government in the financial sphere made it possible to keep huge currency reserves enabling to soften the shock from international sanctions, the International Monetary Fund (IMF) said in its report.

"Russia’s large FX reserves and floating exchange rate regime continue to help absorb shocks. Remaining capital controls effectively curtailed capital outflows and helped preserve buffers despite sanctions," the IMF said.

"While capital control measures introduced in early 2022 were subsequently relaxed, the authorities have kept in place restrictions on repatriation of foreign investment, including FDI, as well as restrictions on cash FX withdrawals from bank accounts and cash exports abroad," IMF experts said.

"Amid remaining restrictions, net private capital outflows increased modestly — from 2.0 percentage points of GDP in 2023 to 2.4 percentage points in 2024," the IMF added.