Washington, 2 July 1997 (RFE/RL) - The International Finance Corporation (IFC) says it will add Russia and Slovakia to its select Investable Composite index of emerging stock markets next November.
The index of 26 emerging stockmarkets is one of several produced by the IFC to help global investors measure returns and performance of markets with the ultimate aim of stimulating the flow of private capital to emerging markets. The stock markets of the Czech Republic, Hungary and Poland are already included.
Russia and Slovakia will be added along with Israel, Egypt and Morocco, according to the Manager of the index group, Robert Shakotko. He says the markets in Eastern and Central Europe and the Middle East have been growing rapidly due to many new stocks and privatizations coming to the market.
The IFC, the private sector affiliate of the World Bank, reported in May that Russia's stock market grew at the second fastest rate among all the world's markets last year and that Slovakia's had its most successful year in 1996.