The Kremlin on Tuesday refused to comment on rumors about the hospitalization of the head of the Central Bank of Russia, Elvira Nabiullina, but wished her “health” and “strength”, reports Reuters.

The 60-year-old technocrat Nabiullina was supposed to be at the “Finance Day” forum in Moscow on Tuesday, but she canceled her speech. The Central Bank refused to comment on this issue.

Answering a question about this topic during the daily press conference, Kremlin spokesman Dmytro Peskov said that this question is inappropriate.

“This is absolutely personal information about health, and we have neither the right nor the desire to comment on it,” he told reporters who asked him if it was true that Nabiullina was operated on in a Moscow hospital.

“In any case, we wish Elvira Sahipzadivna (not her patronymic) health, strength and further dedication,” added Peskov.

Russian investors are closely watching the issue, as Nabiullina is seen as a reputable economist who managed to steer the country’s economy out of the troubled waters that followed the imposition of Western sanctions after the illegal annexation of Crimea in 2014.

The head of Russia’s Central Bank wanted to resign after the invasion began

After the outbreak of full-scale war in February 2022, Nabiullina offered to resign, but was refused by President Vladimir Putin. Moscow’s central bank now plays an even more important role in the country’s economy thanks to measures taken on the exchange rate, capital controls and key interest rates.

“The question may be inappropriate, but we would really like to know,” Evgeny Kogan, a professor at the Moscow Higher School of Economics, told Peskov in Telegram. Kogan has tens of thousands of followers on Telegram, which is used in Russia as both a messaging app and a mass media.

One of the most popular news sites in Russia, Lenta, reminds that the first rumors about the hospitalization of the head of the Central Bank appeared on several popular Telegram channels on Monday.

It was reported in the Banksta Telegram channel that Nabiullina is in the hospital for a routine examination and will return to work in the near future.

But other Russian Telegram channels, in particular “VChK-OGPU”, which are probably connected to Moscow’s special services, reported that Nabiullina underwent surgery after a routine examination and will be able to start her duties only in two weeks.

Elvira Nabiullina warned that the Russian economy is overheating

In comments made last December, Nabiullina warned that Russia’s economy was in danger of overheating as it ended up spending almost all available resources on the military effort.

“The economy is growing so fast because it is using almost all the resources at its disposal,” Nabiullina warned at a press conference and in an official statement released after the central bank’s latest meeting in Moscow.

She also warned that “stubbornly high inflation is evidence that the economy has deviated from its potential and does not have the ability to cope with a sharp increase in demand.” Inflation in Russia rose again to 7.48% in November from 6.69% in October, according to official data.

“Imagine the economy as a car. If we try to go faster than the technical characteristics of the car allow, sooner or later the engine will overheat and we will not be able to drive a long distance. You can drive fast, but for a short time,” said Elvira Nabiullina at the press conference where she announced the new increase in the base rate.

“When the economy is overheated, it lacks the necessary production and labor resources, and the production of each new product is associated with increasing difficulties and increasing costs,” she added.

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