It’s not just Russia: Currency crisis in the Commonwealth of independent states
Highlights • The currency crisis that started in Russia and Ukraine during 2014 has spread to neighbouring countries in the Commonwealth of Independent States (CIS). The collapse of the Russian ruble, expected recession in Russia, the stronger US dollar and lower commodity prices have negatively affected the entire region, with the consequence that the European Union's entire eastern neighbourhood faces serious economic, social and political challenges because of weaker currencies, higher inflation, decreasing export revenues and labour remittances, net capital outflows and stagnating or declining GDP. • The crisis requires a proper policy response from CIS governments, the International Monetary Fund and the EU. The Russian-Ukrainian conflict in Donbass requires rapid resolution, as the first step to return Russia to the mainstream of global economic and political cooperation. Beyond that, both Russia and Ukraine need deep structural and institutional reforms. The EU should deepen economic ties with those CIS countries that are interested in a closer relationship with Europe. The IMF should provide additional assistance to those CIS countries that have become victims of a new regional contagion, while preparing for the possibility of more emerging-market crises arising from slower growth, the stronger dollar and lower commodity prices.
Continuation of Monetary Crisis of 2014 in Russia Is Inevitable
The article is reproducing analysis of relation of foreign currency reserves of the Central Bank of the Russian Federation and the quantityof minted money (M2) for the last 10 years. A well-founded conclusion is drawing: from after 2010 the quantity of money mintedby the government of Russia was far of excess of the quantity the metallic reserve storing allowed. The maximum gap between realquantity of Rubles and currency holdings fall within the end of 2014. Unrestrained emission of Rubles allocated for defense resulted inthe first correction in value of the Ruble; the point at issue is December 14, 2014- the day when the Rouble depreciated on 7 % againstwestern currencies â€“ the US dollar and the Euro. Taken as a whole, within a year the exchange rate of the Rouble to the dollar fall onmore than 55 %, so, on pace of depreciation, the Rouble turned the one of weakest currencies in the world. However, in the authorâ€™sopinion, this correction did not affect the activities of the Russian authorities and this can result in further external imbalance in thecountry and in further crash of the Russian ruble.
RDF Keyword Search based on Keywords-To-SPARQL Translation
In this paper, we present a summary of our work on RDF keyword search. Given a set of keywords, our method automatically generates a set of candidate SPARQL queries, and their natural language description, to be evaluated on the RDF data graph. We discuss our approach, highlighting current and future directions.