A second wave of economic crisis is unlikely...

Russia, which receives a large share of its revenue from oil exports and was hit hard by the global financial and economic crisis, started to exit its recession from the third quarter of 2009 following a recovery on international commodity markets and the government"s anti-crisis measures to prop up the national economy and restore consumer demand.

"There will be a long period of volatility, instability and fluctuations on financial and money markets, in budgets and growth factors," Alexei Ulyukayev, first deputy chairman of the Russian Central Bank, said in an interview with Izvestia daily as he spoke about common problems for the global economy.

Ulyukayev said strong volatility in commodity prices, stock indexes and foreign exchange rates were the result of the failure of the global financial system to solve some fundamental problems, primarily, huge budget deficits.

"The fundamental reason for that is the aging of global population, which provokes constant

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