Investment tide may have turned for crisis-hit Russia

martes 20 de octubre de 2015 11:29 GYT
 

* Putin has says peak of economic crisis reached

* Stagnation fears remain, economy still shrinking

* But oil and rouble have stabilised somewhat

* Worst fears have not materialised

By Sujata Rao and Jason Bush

LONDON/MOSCOW, Oct 20 (Reuters) - With among the highest bond yields in the world and fears of corporate debt defaults receding, Russia is luring back some investors who seem to agree with President Vladimir Putin that the crisis-hit economy is over the worst.

Putin said last week Russia may have reached the peak of an economic crisis worsened by last year's oil price fall and Western sanctions imposed to punish the Kremlin over its role in the conflict in east Ukraine.

Fears of economic collapse drove a record $150 billion-plus in capital outflow last year, with the rouble falling 40 percent and bond yields spiralling.

But with oil and the rouble having stabilised somewhat, the tide may have turned, even if the bullishness is mostly short-term bargain hunting rather than based on firm conviction.   Continuación...