Elvira nabiullina news

Russia's economy was supposed to implode and collapse after the West slapped it with sanctions over its invasion of Ukraine. Russia's ongoing economic resilience has vexed Western nations, but their reaction isn't geared only toward Russian President Putin, a former KGB spy with imperial ambitions. It's also aimed at the woman behind him: Elvira Nabiullina, the country's central bank governor, who plays a chief role in keeping Russia's wartime economy ticking.

In particular, he credits her use of capital controls and monetary policy to stabilize the ruble and her move to steer Russia away from the use of Western currencies in international trade. While many, like McDowell, have credited Nabiullina for her role in propping up Russia's economy, her role in supporting Putin's regime is viewed as a betrayal by many Western finance officials, economists, and analysts.

Just a few years ago, Nabiullina was viewed as a liberal, even among Kremlin insiders. The elite in Brussels appeared to view Nabiullina as one of their own. In , Christine Lagarde, then the director of the International Monetary Fund, praised Nabiullina — a fellow opera lover — as a policymaker who "can make central banking 'sing. Today, the year-old Nabiullina is as much a pariah in the Western world as Putin is.

Elvira nabiullina pronunciation

She has been sanctioned by the US and the UK. Many of the economists and analysts who once rubbed shoulders with her are turning their backs on the woman who is keeping Russia's economy alive — thus helping Putin secure his fifth term in the country's top job. However, Portes — who has sat on panels alongside Nabiullina at international conferences — was "very disappointed" in Nabiullina for supporting Putin's regime.

It is difficult to dislike her. This is just one indication of her unlikely rise to the top echelons of the Russian government. A native of the industrial city of Ufa in Central Russia, Nabiullina was born into a family of ethnic Tatars — a minority group in Russia. Her father was a driver and her mother was a factory worker. Growing up in the s, she studied French, enjoyed classical music, and read classics by the likes of Leo Tolstoy, Fyodor Dostoevsky, and Franz Kafka, her husband Yaroslav Kuzminov said in , Bloomberg reported.