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.

The Group is headed by the EFSD Chief Economist Evgeny Y. Vinokurov


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24 July 2020

Evgeny Vinokurov, Chief Economist of the EFSD, spoke at Valdai Club – CITIC Foundation joint event on the economic cooperation of China and Russia in post-pandemic world
The EFSD Chief Economist Evgeny Vinokurov assessed the losses caused by the COVID pandemic. They are very considerable, resulting in a severe hit on the GDP, mutual trade, mutual investment, and, above all, the movement of people. The world GDP is likely to fall by 5%, while the developed countries are experienced a very deep recession. The Chinese GDP would grow at the slowest rate in several decades (to be followed by strong rebound in 2021), while the Russian economy would compensate 2020 losses only by 2022. At the same time, January-April data for China-Russia trade indicate 7% contraction, which is moderate given the circumstances. This data hints at the durability of China-Russia economic relations

Evgeny Vinokurov, Chief Economist of the EFSD, spoke at Valdai Club – CITIC Foundation joint event on the economic cooperation of China and Russia in post-pandemic world

05 June 2020

Evgeny Vinokurov, Chief Economist of the EFSD, took part in a dispute organized on the basis of Lomonosov Moscow State University on the topic economic development in Eurasia
On June 3, 2020, the chief economists of the regional financing arrangements (RFAs) and the International Monetary Fund met at the first round table in this format. This virtual event is part of an expanding dialogue between the RFAs and the IMF which aims at improving the effectiveness of crisis response by strengthening the Global Financial Safety Net. The community of RFAs includes institutions from Europe, Eurasia, Southeast Asia, the Middle East, and Latin America.

Evgeny Vinokurov, Chief Economist of the EFSD, took part in a dispute organized on the basis of Lomonosov Moscow State University on the topic economic development in Eurasia

31 March 2020

COVID-2019 and the Future of the Belt and Road Initiative

The Belt and Road Initiative (BRI), a very large-scale Chinese initiative supported by more than 130 countries around the globe, is by its very nature a cross-border phenomenon. Thus, it is vulnerable to the coronavirus-induced economic crisis. In this article, EFSD Chief Economist analyzes various negative effects of COVID-19 on the BRI for cross-border movement of goods and people, debt and fiscal sustainability of recipient countries, risks of diminishing availability of financial resources, risks for the emerging multilateralization of the BRI, etc. Based on that, he formulates a number of policy recommendations. The article ends up with a plea to look beyond the immediate effects and limitations faced in the heat of the battle against the coronavirus-induced crisis. The BRI community should perceive and treat the BRI as a truly long-term policy.

COVID-2019 and the Future of the Belt and Road Initiative

30 March 2020

Trans-Eurasian Container Traffic: a Belt and Road Success Story
Countries in Northern and Central Eurasia, including its largest economies, Russia and Kazakhstan, were among early believers in the value of the Belt and Road Initiative. Over the last years, they increasingly embraced various aspects of the BRI, most importantly additional investment and rising volumes of trans-Eurasian traffic. The latter, apart from being a lucrative business on its own, should eventually lead to better internal connectivity between inner-Eurasian regions. In this article EFSD Chief Economist provides data and estimates for the spectacular growth of the volumes of trans-Eurasian container transit. He explains the underlying reasons provides several suggestions on the issue of financing, the role of China, and the role of international financial institutions.  

Trans-Eurasian Container Traffic: a Belt and Road Success Story

20 January 2020

Eurasian Fund for Stabilization and Development’s Chief Economist takes part in developing the Top Ten Risks for Eurasia in 2020 rating
The Top Ten Risks for Eurasia in 2020 rating was presented at the fifth session of the Astana Club – a political forum chaired by the First President of the Republic of Kazakhstan.

Eurasian Fund for Stabilization and Development’s Chief Economist takes part in developing the Top Ten Risks for Eurasia in 2020 rating

08 January 2020

The Eurasian Fund for Stabilization and Development Participates in the Higher School of Economics’s Consensus Forecast
The Eurasian Fund for Stabilization and Development became part of the Higher School of Economics consensus macroeconomic forecast for Russia, Belarus and Kazakhstan

The Eurasian Fund for Stabilization and Development Participates in the Higher School of Economics’s Consensus Forecast

28 November 2019

Сhief Economist of the Eurasian Fund for Stabilization and Development took part in the plenary panel of the HSE conference on the next global economic crisis
Eurasian Fund for Stabilization and Development’s (EFSD) Chief Economist Evgeny Vinokurov made a presentation at the plenary panel of the VII HSE Conference on the Global Economy. EFSD is a regional financing arrangement with six member states and a total portfolio of $5.3 billion. It comprises 15 sovereign policy-based loans, project loans and grants.  EFSD is a part of the global financial safety net

Сhief Economist of the Eurasian Fund for Stabilization and Development took part in the plenary panel of the HSE conference on the next global economic crisis

28 October 2019

Chief Economist of the Eurasian Fund for Stabilization and Development co-authored the book entitled ‘China’s Belt and Road Initiative: Potential Transformation of Central Asia and the South Caucasus’
Evgeny Vinokurov, Chief Economist at the Eurasian Fund for Stabilization and Development, co-authored the book entitled China’s Belt and Road Initiative: Potential Transformation of Central Asia and the South Caucasus. The publication was launched at the Global Meeting of the Emerging Markets Forum in Washington DC on the 20–22 of October 2019.

Chief Economist of the Eurasian Fund for Stabilization and Development co-authored the book entitled ‘China’s Belt and Road Initiative: Potential Transformation of Central Asia and the South Caucasus’

20 September 2019

The EFSD is building competence in debt sustainability assessment
Over the last ten years, developing nations’ debts have increased by more than 1.5 times and exceeded 50% of GDP. The EFSD recipient countries’ debt burden has also grown to similar levels. To ensure macroeconomic stability in the member states, the EFSD Project Unit managed by the Eurasian Development Bank (EDB) pays special attention to debt sustainability analysis

The EFSD is building competence in debt sustainability assessment

11 September 2019

EFSD Chief Economist made a presentation at Bruegel
EFSD Chief Economist Evgeny Vinokurov made a presentation at a high-level event organized by Bruegel. The Global Go to Think Tank Report rates Bruegel as the world’s think tank no.2 in international economics, no.1 in international economics in Europe, and no.4 in the world overall. The high-level seminar’s participants delivered in-depth analysis on the interactions of the EU, Russia, and China in trade, investments, finance, transportation, oil and gas, and electric power

EFSD Chief Economist made a presentation at Bruegel

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