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Russian economist Guriev may replace Berglof as EBRD Chief Economist — sources

In case the appointment occurs Guriev will become the first Russian national to take the position of the bank’s Chief Economist

Sergey Guriev ITAR-TASS/Maxim Shemetov

Sergey Guriev

© ITAR-TASS/Maxim Shemetov

MOSCOW, October 14. /TASS/. Russian economist Sergey Guriev is negotiating appointment as Chief Economist at the European Bank for Reconstruction and Development (EBRD) instead of Erik Berglof, sources familiar with the matter told TASS on Wednesday.

Earlier Bloomberg news agency said with reference to unnamed sources that Guriev will soon be appointed to the position. EBRD representatives refused to comment the information. Guriev was not available for comment. In case the appointment occurs Guriev will become the first Russian national to take the position of the bank’s Chief Economist.

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Guriev was a tenured faculty member and Rector of the New Economic School in Russia from 2004 to 2013. He was member of a number of expert councils and commissions at Russian President and Government as well as member of supervisory board of Russia’s top lender Sberbank. In 2013, he left Russia for France. According to the expert himself, his leaving was related to risks caused by preparation of an expert report on the Yukos case, which doubted the guilt of the company’s management in tax crimes.

Russian President Vladimir Putin said on October 1 that Guriev’s departure from Russia could not have been related to claims from authorities.

The European Bank for Reconstruction and Development was established in 1991 to help build a new, post-Cold War era in Central and Eastern Europe. Currently, 64 countries as well as the European Union (EU) and the European Investment Bank are its shareholders.

Russia joined EBRD in 1992. Up to the present time, Russia accounted for around one third of all bank’s transactions. In 1992-2014, around 800 projects with more than 24 bln euro were financed in Russia.

EBRD’s Chief Economist is in charge of economic researches and forecasts. Berglof quitted the bank in end-2014.

In July 2014, EBRD decided to suspend financing of new projects in Russia at the initiative of its shareholders from the EU due to anti-Russia sanctions.

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