World Bank president positive about reforms in Russia

Wednesday, August 5, 2020

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The situation around YUKOS does not denote a change in the course of Russia’s economic reforms, World Bank President James Wolfensohn announced at a press conference in Moscow today. He noted the situation around this Russian company was similar to the scandal around US-based Enron. Wolfensohn stated he did not think Putin would change the direction of economic development. The official hopes that the YUKOS crisis will be settled by open and legitimate methods and that international organizations will have no grounds for concerns. Commenting on the current state and development outlooks for Russia’s economy, Wolfensohn emphasized the World Bank considered the implementation of earlier approved strategies by the Russian government the top priority for Russia. In particular, he mentioned the need for economy’s diversification and programs within social reforms. As reported earlier, yesterday James Wolfensohn had a meeting with Russian President Vladimir Putin and Prime Minister Mikhail Kasyanov. They discussed, in particular, collaboration between the World Bank and Russia.

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