Russian economy doing better than expected despite sanctions, says IMF

[Herx]

Source: The Times of Israel

Despite damaging Western sanctions imposed on Moscow in the wake of the invasion of Ukraine, Russia’s economy appears to be weathering the storm better than expected as it benefits from high energy prices, the IMF said Tuesday.

The sanctions were meant to sever Russia from the global financial system and choke off funds available to Moscow to finance the war.

But the International Monetary Fund’s latest World Economic Outlook upgraded Russia’s GDP estimate for this year by a remarkable 2.5 percentage points, although its economy is still expected to contract by six percent.

“That’s still a fairly sizable recession in Russia in 2022,” IMF chief economist Pierre-Olivier Gourinchas told AFP in an interview.

Read more: https://www.timesofisrael.com/russia-doing-better-than-expected-despite-sanctions-says-imf/

[Farmer-Rick]

1. I don't know of any war agressor

Who was stopped by economic sanctions.

[Icanthinkformyself]

2. OK

I just read, yesterday, an analysis of the RUS economy by a group of global economists and that article claimed that the Rus economy is on the verge of collapse and is being buoyed by the oil and gas receipts, that will fall is prices come down. The IMF is a Vulture Capitalist propaganda outlet and full of shyt, IMHO.

[harumph]

3. Not surprising. However if strong enough sanctions are continued

Russia will bleed out slow but steady, which is preferable. Sanctions were absolutely the
right action along with funneling Ukraine better arms. I feel for ordinary Russians - inasmuch as
they don't have a say in what Putin does, but their country (1) interfered with our election and (2) invaded Ukraine
and must be made to pay dearly. So I don't give a flying fuck how long it takes.

[Fiendish Thingy]

4. Well, they're still selling gas and oil and are stealing Ukraine's wheat...

So much for NATO unity.

The sanctions have more holes than Swiss cheese.

[David__77]

9. NATO is unified in caring for their own economies, at least a little bit.

…

[yaesu]

5. Russia also lowered its interest rates back down to pre invasion levels again crediting oil prices

So as long as oil is high & NATO is afraid to stop this monster it will continue to destroy any country it wants at will. At the very least russia must be kicked out of the UN, full, 100% sanitations must be imposed & all neutral waters closest to the conflict should be flooded with NATO military ships & all air space also with around the clock patrols. Its time to use the massive military that we have been paying almost a trillion dollars a year for, for a good cause.

[Lonestarblue]

6. The UN is essentially toothless because of its five permanent members who can veto anything.

The current UN needs to be dissolved and a more egalitarian world organization formed in its place. Or find a way to change the UN charter so that at least two members must veto a policy proposal.

Sanctions will hurt Russia but by the time they have an effect on Putin, he will have decimated Ukraine and moved on to Moldova and any other country he deems essential for his new Soviet Empire. Parcelling out weapons to Ukraine a few at a time will not allow them to defeat Russia. NATO has superior air power and needs to use it. Putin will not stop until he is forced to do so? Will NATO finally act when millions upon millions are dead and the last Ukrainian city is on the verge of falling to Russia?

[David__77]

8. The US would not enter such a "new UN."

The UN is functioning as intended in terms of veto power.

[David__77]

7. No thanks to entering this war.

Also, I suspect that most voters would agree if somehow put to a vote.

[ToxMarz]

10. "Better than expected" is a pretty subjective measure. Whose expectation?!

Best way to keep a story relevant, tomorrow they will lead with a negative headline, but close with light at the end of the tunnel...

and rinse..repeat.

[Warpy]

11. The IMF tends to look at things like exchange rates

and industrial capacity.

Here's a better idea of what is actually happening, sanctions are beginning to bite some people hard:

I noticed something he didn't point out, that there were very few people with bags indicating they'd bought something and even fewer wheeling shopping carts in the big supermarket. Fast food seems to be selling, but that's about all.

In another video, he discusses the declining stock of cars, the incredible inflation that's hitting everyone, especially people who could afford to drive cars and take yearly vacations...and shop in malls.

I guess people who are least well off are having to rediscover potatoes and cabbage as staples (Uh, Konstantin, those potatoes are turning green from the fluorescent lighting, they were probably just fine when they were first put out).

[C Moon]

12. "Better than expected" LOL!

[BeyondGeography]

13. Let's emigrate

Who wants to go first?

[ProfessorGAC]

14. I Think There's Book Cooking

I don't think the IMF is getting good data.
Besides, 6% contraction is really bad, so the rosy spin in the article is misplaced.