Financial Times FT.com

Medvedev tells ministers to ‘repair trust’

By Charles Clover and Catherine Belton in Moscow

Published: October 17 2008 02:53 | Last updated: October 17 2008 02:53

Dmitry Medvedev told members of his cabinet on Thursday that their most urgent task was to repair “trust between creditor and debtor” and said he was preparing extra measures to lower risks to lenders.

The Russian president’s remarks came as the economy suffered fresh blows. The state was forced to finance the acquisition of Sobinbank, one of Russia’s top 50 banks, by Gazenergoprombank, which paid an undisclosed sum for Sobinbank after it experienced liquidity problems.

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