Russian Govt. to lift currency regulations to push ruble convertibility

Other News Materials 29 June 2006 16:22 (UTC +04:00)

(RIA Novosti) - The government will consider lifting some limitations in the sphere of currency regulations to improve the convertibility of the ruble at its session Thursday, the prime minister said.

"This is a very important issue, which is directly linked with the tasks set by the president in his state of the nation address," Mikhail Fradkov said, reports Trend.

"At first sight, amendments to the current law are technical, but this is not so, as these amendments are very important," he added.

The government should have a clear idea of the consequences of amendments proposed by the Finance Ministry to the law on currency regulations, Fradkov said.

"Spending should be forecast and risks minimized," he said, "We should clearly understand what these decisions will give Russian businessmen and foreign investors."