Current CBR status needs no substantial changes - Medvedev
SOCHI. May 20 (Interfax) - The current status of the Central Bank of Russia (CBR) is not in need of any substantial changes, Prime Minister Dmitry Medvedev said.
"The status of the Central Bank does not need substantial changes in as much as the Central Bank has worked well in recent years, dealing with its tasks," the prime minister said during a meeting with reporters in the government pool on Saturday.
"Adjustments should not lead to displacing the Central Bank's place in the existing system of agencies for managing the economy. And that generally is the consolidated position of the government, president, and Central Bank," Medvedev said.
This does not mean nothing needs improvement, though, he added.
The question of giving the CBR functions for stimulating economic growth is under discussion, First Deputy Prime Minister Igor Shuvalov has said.
Economic Development Minister Andrei Belousov thinks it would be advisable to amend law concerning the Central Bank, increasing its responsibility for economic growth and lowering interest rates.
However, Deputy Finance Minister Alexei Moiseyev's view is that giving the bank the job of supporting economic growth in the current situation is dangerous and harmful.
Presidential advisor Elvira Nabiullina, who will head the bank starting next month, thinks that the CBR has to encourage economic growth, but using the instruments it already has.