Central Bank Chairman Resigns Amid Criticism
From Times Wire Reports
Russia’s Soviet-era central bank chairman resigned abruptly Friday in a move likely to cheer foreign investors crying out for a weaker ruble and swifter banking reforms.
President Vladimir V. Putin asked parliament’s lower house to accept bank chief Viktor V. Gerashchenko’s resignation and nominated First Deputy Finance Minister Sergei Ignatiev to replace him, the Kremlin said in a statement.
Foreign investors in Russia had long railed at Gerashchenko’s central bank for propping up the ruble.
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