- This topic is empty.
-
Russia in debt default as payment deadline passes
Russia is believed to have defaulted on its debt for the first time since 1998 after missing a key deadline.
Before you start playing, สมัครสล็อตxo วอลเล็ต it’s important to set a loss limit. It’s easy to let the excitement of the casino floor take over.
Russia has the money to make a $100m payment, which was due on Sunday, but sanctions made it impossible to get the sum to international creditors.
The country had been determined to avoid the default, which is a major blow to the nation’s prestige.
Kremlin spokesperson Dmitry Peskov, said “statements of a default were absolutely unjustified”.
He added that an intermediary bank had withheld the money and that the reserves were blocked “unlawfully”.
The White House said that Russia had defaulted on paying yields on its international bonds, crediting sanctions for effectively cutting Russia off from the global financial system.
Russia’s finance minister called the situation “a farce” and said the situation is not expected to have short-term impact.
This is because Russia does not need to raise money internationally as it is reaping revenue from high-priced commodities such as oil, according to Chris Weafer, chief executive at Moscow-based consultancy Macro Advisory.
But he said it would create a “legacy” problem if the situation with Ukraine and international sanctions improves.
“This is the sort of action that will hang over the economy and make recovery much more difficult when we get to that stage,” he said.
- You must be logged in to reply to this topic.
