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'Fireside Chat' with Sergey Aleksashenko

AMEURUS Policy Luncheon

2 December 2009
London

Sergey Aleksashenko is currently Director of Macroeconomic Research at the Higher School of Economics, Moscow and a member of the Advisory Council to the Chairman of the Central Bank of Russia. He addressed a select group from business, finance, media and policy circles on 2 December in London. His speech touched on key issues of economic restructuring and reform in Russia, current political developments looking at the Medvedev-Putin ‘duumvirate’ and wider implications for Russia’s relationship with Europe, its neighbours and the US.

During the discussions the question of whether Russia has learnt as much from its mistakes during the recent crisis as it did from the 1998 crisis arose. Heavy borrowing abroad and inflation have proved significant obstacles for economic recovery in Russia and will continue to hamper Russian GDP growth for the next few years. Several participants wished to explore the extent to which political reform will follow from the economic modernisation which has been made a priority by President Medvedev. It was acknowledged that Russia’s international relations continue to be complex both with its neighbourhood, Europe and the US. Whilst US-Russia relationships are currently more cooperative than they have been for several years, Russian public suspicion persists towards the US and neighbours such as Ukraine and Georgia.

Sergey Aleksashenko previously served as Russian Finance Minister (between 1993 and 1995) and First Deputy Chairman of the Russian Central Bank from 1995-8. He has also headed up the think tank Development Center and worked in the private sector with Merrill Lynch and Interros Holding.