EDN: HINNFO
Authors:
EGOROVA Daria Maksimovna
Abstract.
In the contemporary context of global economic dynamics, scholarly interest is focused on the examination of challenges in implementing sustainable development projects. However, the Agenda for Sustainable Development by 2030, despite its extensive scope and profound goal-setting, deliberately lacks a unified purpose, presenting itself as a configuration of framework formal rules acting as a platform within which various economic and political entities strive to realize their socio-economic and political interests. Recent international events bring to the forefront, particularly for Russia, the primary issue of ensuring the sovereignty of its national economy. It is widely acknowledged that the effectiveness in achieving this strategic objective is closely linked, in part, to the monetary policy formulated by the Central Bank of Russia. Within the scope of this study, the article delves into an in-depth analysis of the financial statements of the Central Bank of Russia, primarily evaluating the quality of its asset management. The article raises questions about the sustained losses incurred by the mega-regulator since 2016, accumulating to a total of 1.86 trillion USD over last six years. Additionally, it questions the growth of foreign exchange reserves, such as gold, given that the operations of the Bank of Russia have virtually ceased for a year in terms of currency and precious metals trading.
Keywords:
Central Bank of the Russian federation, financial statements, asset management, gold and foreign exchange reserves, commercial bank lending, economic sovereignty, monetary policy
