April 14, 2015 / 2:01 PM / 5 years ago

IMF says fall in rouble not enough for Russia

WASHINGTON (Reuters) - The fall in the Russian rouble will not offset the negative factors dragging on the country’s growth, including financial sanctions and lower oil prices, the IMF’s chief economist said on Tuesday.

“We are very sceptical,” IMF’s Olivier Blanchard said, in response to a question on whether the Fund was underestimating Russia’s growth. “Because we think that the Russian economy is subject to many other problems than just that.”

The IMF expects Russia’s economy to contract 3.8 percent this year, and 1.1 percent in 2016.

Reporting by Anna Yukhananov and Krista Hughes

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