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Shuvalov Becomes Head of Kremlin Council For Financial Market Development

GORKI. Oct 12 (Interfax) - First Deputy Prime Minister Igor Shuvalov will become head of the Kremlin Council for Financial Market Development, Kremlin spokeswoman Natalya Timakova has announced.

President Dmitry Medvedev met with Shuvalov on Wednesday to discuss, among other things, the development of the Far East region and ways to perfect the Criminal Code. "After the meeting, the president made the decision to put Shuvalov in charge of the Council for Financial Market Development," Timakova told the press.

President Dmitry Medvedev signed a decree on the resignation of Deputy Prime Minister and Finance Minister Alexei Kudrin on September 26, 2011, after Kudrin's eleven-year tenure of the finance minister's post. Kudrin's resignation was preceded by his statement in Washington that he will not stay in the government if Medvedev becomes prime minister. He also spoke about his disagreements with the president on economic policy matters, primarily "considerable spending on military purposes."

It emerged subsequently that the vacancy would be filled by Anton Siluanov, while Shuvalov would take charge of the financial-economic block in the government. Siluanov will also replace Kudrin in the International Monetary Fund (IMF), the World Bank and the Eurasian Economic Community's Anti-Crisis Fund.

Kremlin aide Arkady Dvorkovich announced on October 11 that Kudrin, given his resignation from the post of deputy prime minister and finance minister, will also leave the posts of chairman of the Kremlin Council for Financial Market Development, the National Banking Council and other structures, including international, where he represented Russia's interests - the World Bank and the IMF. "These posts must be filled by civil servants in office," Dvorkovich said.


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