- May 9, 2022
- Posted by: Stratford Team
- Category: Economy
For the second time in less than a decade, Elvira Nabiullina is steering Russia’s economy through treacherous waters.
In 2014, facing a collapsing ruble and soaring inflation after barely a year as head of the Central Bank of Russia, Ms. Nabiullina forced the institution into the modern era of economic policymaking by sharply raising interest rates. The politically risky move slowed the economy, tamed soaring prices and won her an international reputation as a tough decision maker.
In the world of central bankers, among technocrats tasked with keeping prices under control and financial systems stable, Ms. Nabiullina became a rising star for using orthodox policies to manage an unruly economy often tethered to the price of oil. In 2015, she was named Central Bank Governor of the Year by Euromoney magazine. Three years later, Christine Lagarde, then the head of the International Monetary Fund, effused that Ms. Nabiullina could make “central banking…
