Russia to Spend Billions Buying Shares on Stock Exchanges to Bolster Confidence

The Russian government has made a plan to support their stock exchange . They will invest 6.7 billion dollars into their suffering market by buying shares. But on Friday the Russian stock markets stayed closed because the Asian and European markets were getting very poor results.

The government and the central bank of Russia will both lend 18 billion dollar to the more commercial banks. With those lending the commercial banks would have enough money to ensure their liquidity.

Another possibility to gain extra money is to shore up the prices of their agricultural products. The money the government gains could be invested into the suffering banks and stock markets.
Russia has gained a lot of money out of their oil fields. Now they are investing their profits very good. They invest everything into their stock market and into their banks.

I think the Russian government is on the good way to help their economy. Using their profits from their oil fields could be an good investment on the long term. Once the financial crises is done they will recover their money. Russia takes a lot of clear measures to help their financial market. That could help to regain the confidence of investors.

Source: http://www.nytimes.com/2008/10/11/business/worldbusiness/11ruble.html?_r=1&scp=5&sq=stock%20exchange&st=cse&oref=slogin