Risk Management

Drugs and NPLs: a view from Moscow

Evgeny Gavrilenkov, chief economist at Troika Dialog, explains why the non-perfoming loan 'crisis' in Russia may not be such a crisis after all, and uses a new poll on drug addiction in Russia to support his intriguing argument.

Latvian PM to axe government spending

The newly-appointed prime minister of Latvia, Valdis Dombrovskis, says his government is prepared to cut government spending by up to 40% in order to reduce the budget deficit and meet IMF austerity measures.

Latvia not going the way of Iceland, says central bank governor

The governor of the Bank of Latvia, Ilmārs Rimšēvičs, says he is confident that Latvia is not going the way of Iceland. “The short-term debt of Iceland is twice as high as the total gross external debt of Latvia. Moreover, half of the banks’ short-term debt is in fact long-term”, he told an investor conference in London on November 4.

UBA appoints new executive director

The board of The United Bank for Africa has appointed Alhaji Bello as executive director with supervisory responsibilities for the bank’s interstate transaction business. The appointment is subject to the confirmation of the Central Bank of Nigeria.