January issue of Bank of Russia Money and Credit is published

The first 2016 issue features:

Theoretical Fundamentals of Building Bank of Russia Procurement System. In addition to being a topic of interest by itself, procurement at the Bank of Russia influences the overall business climate of the financial sector. The main principles and criteria of the procurement activity conducted by the mage-regulator are presented in the article of Valery Goreglyad, the Chief Auditor of the Bank of Russia. The readers’ attention is also focused on measures to enhance the transparency of this activity and to save budget funds.

New Macroeconomic Theory of Open Economy. Sergey Moiseyev, Director of the Bank of Russia Financial Stability Department, discusses advantages of the new Keynesian open-economy models which are actively employed by a wide range of central banks, the Bank of Russia being one of them. The author analyses inflation targeting, exchange rate regime evolution and other areas of the monetary policy from the perspective of the new theory.

Law on Bankruptcy of Individuals: Hopes and Concerns. From the viewpoint of Pavel Medvedev, financial ombudsman, seeking to alleviate the litigation burden, the financial ombudsman could take upon itself the handling of a considerable number of debt restructuring cases, as it is less formal by nature (than courts) and does not have to resort to the mediation of lawyers when dealing with individuals.

We are taking the chance to inform that in 2016 the journal’s format will be mordernised in order to improve its convenience for readers.