Net capital outflows from Russia were at the highest level ever in 2014. Net outflows by companies and banks reached $151.5 billion in 2014, more than two times as much as in 2013, according to the Russian Central Bank. The last time the level of outflows were around these levels was during the global financial crisis in 2008 — at $133.6 billion. The fourth quarter in particular saw a huge spike. Net outflows surged up to $72.9 billion, from $16.9 billion in the previous quarter, following the drop in oil prices and the ruble’s plunge. In dire circumstances like this, …read more
Source: Business Insider
