Fitch keeps eye on rising capital outflows from Russia

Fitch Ratings said capital outflows from Russia appear to have risen sharply in the fourth quarter, although not by enough to affect the country's BBB rating.

The outflows partly reflect the poor business climate and political uncertainty, the agency said, and they will be monitored for signs of a material increase.

According to Fitch, Central Bank of Russia first deputy chairman Alexei Ulyukayev said on Dec. 15 that Russia saw $74 billion of capital outflows from January to November. The agency said the latest official data for January to September put net private-sector capital outflows at $49 billion.

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