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Chief Economist Group

The Chief Economist Group realizes a number of tasks, including:

organization and implementation of work on the analysis of regional and country macroeconomic trends in the area of operations of the Fund, including issues of economic growth, monetary policy, budget policy, debt sustainability, and structural reforms;
preparation and production of working papers available to general public;
development of the Fund's partnership in the field of analytical activities and implementation of joint analytical projects with international financial organizations and other institutional partners.

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05 July 2023

The quarterly monitoring of sovereign financing in the Eurasian region has been published.

The monitoring covers approved financing by international financial institutions and development agencies in Q2 2023 in Eurasian countries, namely: Azerbaijan, Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Mongolia, Russia, Tajikistan, Turkmenistan, and Uzbekistan. The review is based on information presented on official websites of international financial institutions: the Asian Infrastructure Investment Bank ( AIIB); the Asian Development Bank ( ADB); the World Bank ( WB); the Eurasian Development Bank (EDB); the Eurasian Fund for Stabilization and Development (EFSD); the European Bank for Reconstruction and Development (EBRD); the European Investment Bank (EIB); the International Monetary Fund (IMF); the New Development Bank (NDB); and the Islamic Development Bank (IsDB). The review also offers information on operations of the following development agencies: GIZ (Germany), JICA (Japan), SDC (Switzerland), TIKA (Turkey), USAID (USA), AFD (France), UNDP, Abu Dhabi Fund for Development, and UN Women, The United Nations Environment Programme (UNEP), The Global Environment Facility (GEF), Green Climate Fund (GCF), Sweden’s government agency for development cooperation (SIDA), The Diplomatic Service of the European Union (EEAS).

The quarterly monitoring of sovereign financing in the Eurasian region has been published.

18 May 2023

EFSD experts present their proposals on the functioning of international financial architecture within the G20 expert track

An important part of the G20 process is dialogue with the expert community. One of the most active dialogue formats is the Expert Twenty (T20). T20 is the official group for the G20, bringing together leading think tanks around the world. It serves as the G20's "ideas bank" and aims to provide policy advice to G20 leaders.

EFSD experts present their proposals on the functioning of international financial architecture within the G20 expert track

10 April 2023

The quarterly monitoring of sovereign financing in the Eurasian region has been published.

The monitoring covers approved financing by international financial institutions and development agencies in Q1 2023 in Eurasian countries, namely: Azerbaijan, Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Mongolia, Russia, Tajikistan, Turkmenistan, and Uzbekistan.

The quarterly monitoring of sovereign financing in the Eurasian region has been published.

16 January 2023

Vinokurov E., Grichik M. (2022) New concept of international reserve assets: Security, diversification and nonconventional approaches. Voprosy Ekonomiki, 12:24-43. (In Russian)

The freezing of Russia’s international reserve assets, the world’s seventh largest, despite not being the first case of its kind, will have systemic impact on the way countries around the world treat their reserves. Financial sanctions have undermined confidence in traditional reserve currencies. A systemic and complete revision of the conceptual approaches to managing international reserve assets is due. The current framework of the international financial system does not offer any off-the-shelf solutions to enable safeguarding the integrity of reserves and maintaining macroeconomic stability

Vinokurov E., Grichik M. (2022) New concept of international reserve assets: Security, diversification and nonconventional approaches. Voprosy Ekonomiki, 12:24-43. (In Russian)

13 January 2023

Vinokurov, E., Grichik, M., Tsukarev, T. (2022) New approaches to international reserves: the lack of credibility in reserve currencies. Russian Journal of Economics 8(4): 315-332.

This research paper aims to scrutinise a wide range of solutions that can theoretically replace/supplement reserves in traditional reserve currencies

Vinokurov, E., Grichik, M., Tsukarev, T. (2022) New approaches to international reserves: the lack of credibility in reserve currencies. Russian Journal of Economics 8(4): 315-332.

11 August 2022

Vinokurov E., Ahunbaev A., Zaboev A. (2022) International North–South Transport Corridor: Boosting Russia’s “pivot to the South” and Trans-Eurasian connectivity. Russian Journal of Economics 8(2): 159-173

This paper aims to identify potential containerized and non-containerized freight traffic with a goods nomenclature and to quantify synergies arising from interlinking the International North–South Transport Corridor (INSTC) and the Eurasian east–west transport corridors

Vinokurov E., Ahunbaev A., Zaboev A. (2022) International North–South Transport Corridor: Boosting Russia’s “pivot to the South” and Trans-Eurasian connectivity. Russian Journal of Economics 8(2): 159-173

23 February 2022

EDB and EFSD Chief Economist Evgeny Vinokurov took part in the 11th Middle East Conference of the Valdai Discussion Club

The expert shared his views on why Russia and Middle East need International North-South Transport Corridor, and how its development can help countries seize post-crisis opportunities and foster economic recovery

EDB and EFSD Chief Economist Evgeny Vinokurov took part in the 11th Middle East Conference of the Valdai Discussion Club

10 February 2022

EFSD experts presented the results of their analytical work at T-20 Task Force on international financial architecture

The Think20 (T20) is the official engagement group of the G20, bringing together leading think tanks and research centers worldwide. It serves as the ‘ideas bank’ of the G20 and aims to provide research-based policy recommendations to the G20 leaders. Given the importance of timely and overarching issues of COVID-19 exit policy coordination, digital/FinTech penetration, and green sustainable economic expansion, the Government of Indonesia has adopted them among the key agenda of the country’s Presidency of G-20 Meeting in 2022

EFSD experts presented the results of their analytical work at T-20 Task Force on international financial architecture

13 January 2022

Evgeny Vinokurov. Economic Reality and Prospects of Central Asia Still Not Fully Comprehended

The economic growth of Central Asia, its journey over the last 30 years, and the scale of its recent economic change are impressive. Following a major transformation, Central Asia became a large, important, and rapidly growing region. The world still needs to grasp that transformation.

Evgeny Vinokurov. Economic Reality and Prospects of Central Asia Still Not Fully Comprehended

11 January 2022

Evgeny Vinokurov. 2019 – Digital. 2021 – ESG. 2023 – ? A Longer and More Productive Life as the Next Global Priority

Once every couple of years, a new big theme overflows the world – one that surfaces a new megatrend and entirely transforms the global agenda. It happened with digital technologies in 2019, and then with the soaring popularity of ESG in 2021. New trends affect most market players. Responses are generated at all managerial decision-making levels, as active engagement becomes not merely a development driver, but the key to survival in a competitive market. The economy and the society are changing – and fast!