How to Salvage the Devalued Deposits of Russian Citizens

Abstract

ABSTRACT Revitalizing capital investment via the monetary resources of Russian citizens is a major factor of the socioeconomic and innovative development of the country and would reduce Russia’s dependence on foreign capital. To achieve this, it is necessary to compensate, revalue, and restructure the savings of citizen, which have been devalued after being deposited in the government-owned Sberbank. The article describes how the reimbursement of citizen savings has been addressed by the government thus far and considers how lost savings can be restored (e.g., through the issuance of government debt securities). We conclude that the first priority of restoring the devalued savings should be to establish the specific and legal amount owned to each depositor (e.g., in the form of targeted debt obligations).