Ksenia Yudaeva leaving Central Bank of Russia as of Oct 31

MOSCOW. Oct 31 (Interfax) - Ksenia Yudaeva is leaving the Central Bank of Russia as of October 31 in connection with her decision to work elsewhere, the Central Bank said in a statement.

"Ksenia Yudaeva, advisor to the Governor the Bank of Russia, and previously First Deputy Governor of the Bank of Russia and member of the Board of Directors of the Bank of Russia, has decided to continue her career outside of the Bank of Russia," the Central Bank said.

Russian Prime Minister Mikhail Mishustin had previously asked Finance Minister Anton Siluanov, who is International Monetary Fund Governor for the Russian Federation, to nominate Yudaeva for election as Russia's Executive Director at the IMF.

It emerged in early September that Yudaeva, a former Central Bank of Russia first deputy governor, could become Russia's Executive Director at the IMF. Alexei Mozhin has been Russia's permanent representative at the IMF since the 1990s.

Yudaeva joined the Central Bank in September 2013, before which she headed the Russian presidential expert directorate. She became one of the first members of Elvira Nabiullina's new team - they had previously worked together at the presidential administration. Yudaeva was initially responsible for monetary policy, but in early 2015, Dmitry Tulin took over monetary policy - now Alexei Zabotkin is in charge of it and Tulin is responsible for banking supervision and regulation - and Yudaeva began to deal with strategy, forecasting and financial stability. Yudaeva stood down as first deputy governor on August 1, 2023, but stayed on as advisor to Nabiullina. The Central Bank said later that Kirill Tremasov, lately head of the monetary policy department, would become advisor to the governor from the beginning of October.

"Ksenia Yudaeva has made an inestimable contribution to the Bank of Russia's development as a modern institution. It was she who helped introduce inflation targeting. We have got through a series of crises together. And each time, her knowledge, ability to see the whole picture and astuteness helped to produce the right response to these challenges. That we managed to maintain financial stability during crises is largely down to her," the Central Bank quoted Nabiullina as saying.

"We are indebted to her professional team of researchers on macroeconomics, finance, banks and the climate agenda, which any central bank could be proud of. All this will continue to help us move forward. We wish Ksenia Valentinovna every success!" Nabiullina said.