The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Awards

Finance Minister of the Year 1997: Chubais forces the pace

Since Anatoly Chubais became finance minister, Russia's stock has risen dramatically. The architect of privatization is now pushing ahead with wide-ranging economic reforms, to the delight of the international community.

Chubais takes stock

Central Banker of the Year: Yam: Hong Kong's sharp-shooter

The perennial worrier

Finance Minister and Central Banker of the Year: The regional winners


Russia's finance ministry has developed a new dynamism under Anatoly Chubais. Confidence in his commitment to reform, privatization and a tight fiscal and monetary policy have led to a surge in investment by foreign fund managers and direct strategic investors. The performance of the capital markets is impressive: equity prices are up more than 185% for the year to date. They appreciated by 20% in August alone, making Russia the world's top-performing stock market.

"The ministry of finance has become the most sophisticated part of the entire central government," says Aleksandr Tolchinsky, a director of Credit Suisse First Boston and one of the leading investment bankers in Russia. "In terms of professionalism, dealing with foreign investors, or even the English language ability of their staff, they run an extremely smooth, polished operation."

Chubais's appointment in March as finance minister and first deputy prime minister made him the third-ranked official in the Kremlin behind president Boris Yeltsin and prime minister Viktor Chernomyrdin.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree