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Russia: Massive Capital Flight Continues

Russian President Vladimir Putin meets with regional governors, financial analysts, and Central Bank leaders to discuss the country’s economy and government finances. Along with the country’s shaky economy, capital continues to leave Russia in the tens of billions of dollars. (Photo: Russian Presidential Press Service)

Amid Russia’s economic woes, billions of dollars continue to disappear in offshore havens. The net outflow of capital from Russia reached $32.6 billion during the first quarter of 2015, according to the nation’s Central Bank. 
 
The bank is now forecasting that capital flight may reach $131 billion by the end of the year. In reporting first quarter numbers, the Central Bank also upwardly revised the 2014 figure for net capital outflow to $154.1 billion from the previously reported $151.5 billion. That figure marks the highest annual total of capital flight since the Central Bank started tracking the trend back in 1994. 
 

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Russia: Massive Capital Flight Continues

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