Russia's central bank will call in emergency loans in order to reduce pressure on the rouble and "rein in inflation", it has been reported.
The bank wants to curb Russia's budget deficit with the move by directing the funds back to the government, according to Bloomberg.
"There's still plenty of government money in the banks," Clemens Grafe, [...]

A document form the Russian Finance Ministry shows that the Russian state pension fund is planning to invest 40 per cent of its funds in corporate bonds.

Gazprombank may be set to receive a 75 billion rouble ($2.41 billion) loan from Russian state bank, VEB.

Russian Finance Ministry sources have told Reuters that the country has plans to borrow $18 billion from abroad in 2010, which is almost double the external borrowing level for this year.

Russia’s state-owned gas firm, Gazprom, has revealed that it is expecting to report profits this year from domestic gas sales.

The Russian rouble has rebounded this week, after dipping below the 39 mark versus a euro-dollar basket on Monday for the first time since March. Central bank interventions and a temporary rise in oil prices have been credited as factors that have strengthened the Russian rouble to 38.63 from 39.03 in the first few minutes [...]

The Russian rouble has fallen to a two-month low against the euro-dollar basket yesterday (9 July) due to a shrinking of oil prices. However, the Central Bank says the fall is not yet steep enough to warrant interventions.

Russia saw its reserve fund shrink a further 5% in June 2009 as the government used the money to cover its budget deficit.

The Russian government is finally considering a draft law that could allow overly indebted citizens to declare themselves bankrupt.