Thread by @anders_aslund

"Russia’s highly regarded central bank Governor Elvira Nabiullina sought to resign after Vladimir Putin
ordered an invasion of Ukraine, only to be told by the president to stay, according to four people with knowledge of the discussions." (Bloomberg)
Don't believe it!

Nabiullina has been a disaster as CBR governor:
1. 3 of the 5 biggest private banks went under in the fall of 2017 (Bank Otkritie, Binbank & Promsvyazbank) after Nabiullina had loaded them up with failing private banks. Each was involved in terrible crimes & CBR supported them.

2. Twice, in December 2014 and December 2016, she caused Ruble crises to help Igor Sechin pay off huge foreign debts of Rosneft, caused by his gobbling up of TNK-BP for no good reason.

3. As CBR governor, she has also been chair of Sberbank, whose CEO is her old boss German Gref. This is an impermissible conflict of interest. Gref is considered one of Russia's foremost money launderers, and she has protected him and his private corporate raiding.

4. Under Nabiullina, the state's share of the banking system has steadily increased to about 70%. She is the undertaker of private bank business in Russia.

5. At Putin's behest, she has built up Russia's international currency reserves to $640 billion, so that Putin could pursue wars, while the Russian people have suffered.

6. Foreign bankers praise her for low inflation through high interest rates, but inflation has not been low because of her causing two major currency crises and the Russian population has suffered from her extreme austerity policies.

7. Several top officials at the CBR have been accused of major corruption, especially in connection with the many strange bank crises. She kept the incompetent spy Alexander Torshin as deputy governor for years because some security agency demanded that.
This is not competent!