Georgy Matyukhin
Georgy Matyukhin | |
|---|---|
| Born | September 6, 1934 Barnaul, Soviet Union |
| Occupation | Economist |
| Years active | 1953–present |
| Known for | Chairman of the Central Bank of Russia (1990–1992) |
Georgy Gavrilovich Matyukhin (; born September 6, 1934) is an economist from the Soviet Union and Russia who held the position of chairman at the Central Bank of Russia between August 1990 and June 1992.
Biography
Matyukhin was born in Barnaul and completed his education at Semipalatinsk Geological Prospecting College. He initially worked as a geologist in the Tajik SSR and Western Siberia from 1953 to 1956. In 1961, he graduated from the Moscow State Institute of International Relations and subsequently spent four years working at the central office of the First Chief Directorate of the KGB. During this period, he was expelled from Uruguay along with other Soviet intelligence personnel.
Beginning in 1970, Matyukhin was employed by the International Investment Bank, dedicating two years to full-time work followed by eleven years as a consultant. He pursued postgraduate studies at the Moscow Financial Institute, where he defended his PhD thesis on "International Regional Banks." Between 1973 and 1980, he was affiliated with the Institute of World Economy and International Relations under the USSR Academy of Sciences, where he earned a doctoral degree with a dissertation titled "Problems of Credit Money under Capitalism."
From 1980 to 1988, Matyukhin served as a professor at the All-Union Academy of Foreign Trade, and then from 1988 to 1990, he held the position of lead researcher at the Institute of the USA and Canada within the USSR Academy of Sciences.
On August 7, 1990, upon recommendation by Ruslan Khasbulatov, Matyukhin was appointed acting chairman of the Board of the State Bank of the RSFSR. Subsequently, on December 25, 1990, he became Chairman of the Central Bank of the RSFSR. One of his principal accomplishments was creating Russia’s two-tier banking framework: establishing a Central Bank responsible for monetary policy and oversight alongside commercial banking institutions.
After the dissolution of the State Bank of the USSR on December 20, 1991, its currency issuance and regulatory duties were transferred to the Central Bank of Russia.
Matyukhin resisted measures that effectively confiscated Soviet citizens' deposits held in Sberbank, advocating for deregulating deposit interest rates to protect savings during price liberalization. Despite this, government borrowing rates remained artificially suppressed. He was removed from his post on June 16, 1992, with Viktor Gerashchenko succeeding him.
Following his tenure at the Central Bank, Matyukhin occupied senior management positions at several banks, including "Gorny Altai," "Noosfera," Sobinbank, and "Dialog-Optim."
His grandson, Stanislav Anatolyevich Matyukhin, also served in a senior capacity at the Bank of Russia as Deputy Head overseeing licensing departments related to investment funds and pension funds.