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IMF Cuts Russian GDP Forecast in Half

The International Monetary Fund halved its forecast for Russia's 2015 gross domestic product to 0.5 percent on Wednesday, saying that international tensions had created downside risks to its estimates. “Geopolitical uncertainties are having a big direct impact on the Russian economy,” Antonio Spilimbergo, the IMF's mission head to Russia, told journalists. Russia is embroiled in conflict with Ukraine. Consequently, western countries have imposed a series of sanctions...

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