Russian President Vladimir Putin wants to renew Elvira Nabiullina at the head of the Central Bank, in that position since 2013 and whose term expires on June 24, the lower house of parliament announced on Friday.
For several days there has been speculation about the future of the person responsible, and rumors of a possible resignation have been circulating after the entry of Russian troops into Ukraine on 24 February.
“The President of the Russian Federation proposed to the Duma the candidacy of Elvira Nabiullina for the post of president of the Central Bank”, according to the Assembly's Telegram account, which is due to consider the issue on March 21.
On February 28, the Central Bank of Russia raised the guideline rate from 9.5% to 20%, in the face of the announced Western sanctions against Moscow. It also imposed drastic measures on the purchase of foreign exchange to stop the fall of the ruble and keeps the Moscow Stock Exchange closed to prevent its collapse.
Shortly after the Russian offensive, Nabiullina appeared on television, pale, dressed in black and with a closed expression on her face, in a meeting with Putin.
Following her appointment to the Central Bank in 2013, the former Minister of Economic Development from 2007 to 2012 tried to clean up the banking sector and managed to control the currency crisis caused by falling oil prices and Western punitive measures related to Ukraine in 2014.
Nabiullina succeeded in reducing inflation to historically low levels.
His work was praised by the international community, such as Christine Lagarde, when he headed the International Monetary Fund (IMF).
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