The EBRD is prepared to announce the damages in connection with the " crisis in the Russian Federation and Ukraine "
The European Bank for restoration and development (EBRD) for the first time after the economic recession of 2008-2009, most likely, will be forced to report the loss results 2014 in connection with the "crisis in the Russian Federation and Ukraine," reports Reuters referring to the Vice-President Andras Seymour.
Seymour said that " the fall in the value of investments in the Russian Federation due to the devaluation of the ruble, as Well as the development of reserves in case of losses in both countries (Russia and Ukraine) can lead to Bank losses results in 2014." Perhaps we will finish the year with a loss, "said Seymour, RIA" Novosti ". As reported, the Bank has reported a loss five times since its inception in 1991. The last time the Bank has suffered losses in 2008 and 2009, when the sum of the losses amounted to $ 1, 4 billion euros." Now the Bank will face significant write-offs of assets due to a strong fall of the ruble and hryvnia ", - reports the Agency. Says EBRD investments in the Russian Federation are 5, 8 billion euros, Ukraine - 3 billion euros." The allocation of an additional billion euros in the form of anti-crisis measures, as Well as later respect EBRD escalation fall in Ukraine has led to the fact that the risk for the Bank exceeded its own credit trigger without causing corresponding reaction ", - quotes Agency the extract from the report of the Bank. On Wednesday, Prime Minister of Russia Medvedev D. A. said that the difficult situation in the Russian economy was expected a year earlier. Also Medvedev has called the current oil prices prohibitively low, but said that the Russian authorities will not just wait, when they will go up.
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