The city is a primary convergence point for these issues, and enlightened urban management is key to mitigating their worst impacts.

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The requirement that banks must hold up to about a quarter of their deposits in government bonds was no longer denounced as a racket to help fund the budget deficit but instead hailed as an enlightened form of liquidity management.

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In a similar vein, Sibneft used to brag about the advanced management and innovations introduced by its enlightened leaders.

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