Medvedev demands action to lure funds into Russian mkt

Forbes – Russia’s government and central bank must act to lure additional funds into its financial market, President Dmitry Medvedev said on Thursday.

"The government and central bank should undertake all necessary measures to ensure inflows of additional funds into the financial market," Medvedev told reporters ahead of a meeting of government officials on financial markets.

"The situation on the Russian market today does not reflect the real state of the economy," he said. "Russian remains an attractive place for financial investments."

Russia’s stocks fell more than 5 percent on Wednesday to a fresh two-year low as poor performance prompted redemptions from hedge funds ahead of results, while falling oil prices weighed on future prospects.

The sell-off has seen the benchmark RTS index shed nearly half of its value since mid-March.

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