The Russian Federation and 12 other former Soviet republics become members of the International Monetary Fund and the World Bank.
The International Monetary Fund (IMF) is an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1944, started on 27 December 1945, at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international monetary system. It now plays a central role in the management of balance of payments difficulties and international financial crises. Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. As of 2016, the fund had XDR 477 billion (about US$667 billion).Through the fund and other activities such as the gathering of statistics and analysis, surveillance of its members' economies, and the demand for particular policies, the IMF works to improve the economies of its member countries. The organization's objectives stated in the Articles of Agreement are: to promote international monetary co-operation, international trade, high employment, exchange-rate stability, sustainable economic growth, and making resources available to member countries in financial difficulty. IMF funds come from two major sources: quotas and loans. Quotas, which are pooled funds of member nations, generate most IMF funds. The size of a member's quota depends on its economic and financial importance in the world. Nations with greater economic significance have larger quotas. The quotas are increased periodically as a means of boosting the IMF's resources in the form of special drawing rights.The current managing director (MD) and Chairwoman of the IMF is Bulgarian economist Kristalina Georgieva, who has held the post since October 1, 2019. Indian-American economist Gita Gopinath, who previously served as Chief Economist, was appointed as First Deputy Managing Director, effective January 21, 2022. Pierre-Olivier Gourinchas replaced Gopinath as Chief Economist on January 24, 2022.
Russia (Russian: Россия, tr. Rossiya, pronounced [rɐˈsʲijə]), or the Russian Federation, is a transcontinental country spanning Eastern Europe and Northern Asia. It is the largest country in the world by area, covering over 17,125,191 square kilometres (6,612,073 sq mi), and encompassing one-eighth of Earth's inhabitable landmass. Russia extends across eleven time zones and borders sixteen sovereign nations, the most of any country in the world. It is the ninth-most populous country and the most populous country in Europe, with a population of 145.5 million. The country's capital and largest city, Moscow, is also the largest city entirely within Europe. Saint Petersburg is Russia's cultural centre and second-largest city. Other major urban areas include Novosibirsk, Yekaterinburg, Nizhny Novgorod and Kazan.
The East Slavs emerged as a recognisable group in Europe between the 3rd and 8th centuries AD. The medieval state of Kievan Rus' arose in the 9th century. In 988, it adopted Orthodox Christianity from the Byzantine Empire. Rus' ultimately disintegrated, and among its principalities, the Grand Duchy of Moscow rose. By the early 18th century, Russia had vastly expanded through conquest, annexation, and exploration to evolve into the Russian Empire, the third-largest empire in history. The monarchy was abolished following the Russian Revolution in 1917, and the Russian SFSR became the world's first constitutionally socialist state. Following a civil war, the Russian SFSR established the Soviet Union with three other republics, as its largest and the principal constituent. The country underwent a period of rapid industrialisation at the expense of millions of lives. The Soviet Union played a decisive role in the Allied victory in World War II and emerged as a superpower and rival to the United States during the Cold War. The Soviet era saw some of the most significant technological achievements of the 20th century, including the world's first human-made satellite and the launching of the first human into space.
Following the dissolution of the Soviet Union in 1991, the newly independent Russian SFSR renamed itself the Russian Federation. In the aftermath of the constitutional crisis of 1993, a new constitution was adopted, and Russia has since been governed as a federal semi-presidential republic. Since his election in 2000, Vladimir Putin has dominated Russia's political system and Russia has experienced democratic backsliding, shifting into an authoritarian state.
Russia is ranked 52nd on the Human Development Index, with a universal healthcare system and free university education. Russia's economy is the world's eleventh-largest by nominal GDP and the sixth-largest by PPP. It is a recognised nuclear-weapons state, possessing the world's largest stockpile of nuclear weapons, with the fourth-highest military expenditure. Russia's extensive mineral and energy resources are the world's largest, and it is among the leading producers of oil and natural gas globally. It is a permanent member of the United Nations Security Council, a member of the G20, the SCO, BRICS, the APEC, the OSCE and the WTO, as well as the leading member of the CIS, the CSTO, and the EAEU. Russia is also home to 30 UNESCO World Heritage Sites.