INTERVIEW-Russian central banker sees no need for capital controls
(adds China-Russia currency swap, quotes)
By Lisa Jucca
HONG KONG Jan 20 (Reuters) - Russia is not suffering the same pace of capital outflows as at the end of 2008 and sees no need to introduce capital controls, central bank first deputy governor Ksenia Yudayeva told Reuters on Tuesday.
"We do not see the objective need of capital control measures," she said in an interview on the sidelines of the Asian Financial Forum in Hong Kong.
Net outflows by companies and banks reached a record $151.5 billion last year, nearly triple the 2013 level and exceeding the $133.6 billion in 2008 during the global financial crisis, illustrating the impact of Western sanctions and the blow from slumping oil prices.
But Yudayeva said 2008 outflows were concentrated in the that year's second half, whose pace was much faster than in the last six months of 2014.
"There is no objective need for capital control measures," she said.
On Jan. 14, Russian Prime Minister Dmitry Medvedev ruled out capital controls. During the 2008 crisis, Russia did not impose any such controls.
Yudayeva said that Russia's exporters, especially in energy, would be asked to better manage their foreign currency reserves. Продолжение...