Russia to Tap ‘Rainy Day Fund’ to Buy Central Bank’s Stake in Sberbank
Russia will tap its National Wealth Fund (NWF) to buy the central bank’s stake in Sberbank, ending years of debate about potential conflicts of interest arising from the central bank controlling the country’s top lender. The sale at market price, discussed at Russia’s top-level since late last year, will also help fund social pledges made…