Bad debt levels spiral in Russia
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The amounts of bad consumer debt in Russia tripled in 2006, raising concerns about the security of the banking system.
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President Vladimir Putin&#39;s economic adviser has warned that Russia is jeopardising its economic growth by drifting away from liberal market reforms and moving towards increased state intervention.
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Six years of economic growth fed by high oil prices have given President Vladimir Putin&#39;s government a pleasant but crucial problem: how to spend its windfall.
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Russian inflation was 11.7 percent in 2004, slower than the 12 percent rate for 2003 but still above government's target, according to Russia's Federal Statistics Service.
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Russia has been sending negative signals to foreign investors in addition to its high-profile effort to take over Yukos Oil Co., reflecting what may be a growing rift within the government over its commitment to economic reform and international business.
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Yukos shares plunged 18% on the Russian exchange yesterday after reports that the oil firm has been hit with another back-tax bill, bringing its total debt to $17bn (Â£9.
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Enrollments pass muster, but bad debt's on the rise.
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A spate of mishaps in Russia's navy has   exposed the gap between the Kremlin's ambition of restoring   lost military might and the reality of temperamental equipment   and badly paid crews.
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President Vladimir Putin told the chief of the International Monetary Fund on Thursday that Russia may pay off portions of its international debt earlier than initially planned. The IMF head, meanwhile, urged Putin to push ahead with reforms and rein in inflation while Russia's economy enjoys an oil-fueled economic boom.
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Mobile operator Vimpelcom is the latest Russian firm to be hit with a heavy bill for back taxes
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Changes in Russia&#39;s political structure and government warnings to some corporations have come as rude awakenings to investors who have been dazzled by economic gains posted by Russia in the past few years.
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Legal capital flight from Russia more than tripled last year to &#36;7.9 billion from a year ago, while the volume of money that illegally left the country via shadowy business transactions jumped by more than 50 percent, the Central Bank said Thursday.
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Russia's justice ministry said that Yukos has paid three-fourths of its 2000 tax bill but still had billions more in outstanding debts that analysts said would require sales of its assets.
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Mikhail Khodorkovsky, former chief of Yukos, once the largest petroleum exporter in Russia, told the Russian courts from jail that he did not have enough money to pay the company&#39;s tax debt.
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Russia pledged on Tuesday to write off  an additional $500 million of African debt, just days before a  Group of Eight summit where Germany will push rich nations to  deliver on promises to help Africa.
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World investment banks to losses of about $30bn from bad debts linked to the global credit crunch, a report says.
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The global credit crisis and volatility across developed financial markets could yet hurt Russia and hinder long-term investment, Finance Minister Alexei Kudrin said late on Saturday.