Posted on Mar 17, 2022
Fears are growing that Russia will default on its debt. Here's what you need to know
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https://www.npr.org/2022/03/16/ [login to see] /fears-are-growing-that-russia-will-default-on-its-debt-heres-what-you-need-to-kn
Investors are preparing for the very real possibility that Russia will default on its debt, an event that threatens to further isolate the country from the global financial system, perhaps for years to come.
On Wednesday, Russia needs to pay a total of $117 million in interest payments on two bonds that are denominated in dollars. Right now, it is unclear how or if the country will pay them.
Failure to pay the interest would start a 30-day grace period for Russia to make good on the amount due.
But currently, Russia is largely shut out of its dollar reserves because of the sanctions imposed by the U.S. and its allies.
Investors are preparing for the very real possibility that Russia will default on its debt, an event that threatens to further isolate the country from the global financial system, perhaps for years to come.
On Wednesday, Russia needs to pay a total of $117 million in interest payments on two bonds that are denominated in dollars. Right now, it is unclear how or if the country will pay them.
Failure to pay the interest would start a 30-day grace period for Russia to make good on the amount due.
But currently, Russia is largely shut out of its dollar reserves because of the sanctions imposed by the U.S. and its allies.
Fears are growing that Russia will default on its debt. Here's what you need to know
Posted from npr.org
Finance
Economics
Russia
Investing
Money
Posted >1 y ago
Responses: 2
Suspended Profile
Hopefully the citizens see what a cornered and starving rat nest has done over the years.
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This is very concerning PO1 William "Chip" Nagel cause Russia may default on two sets of dollar denominated loan payments, one that matures next year & one the year after. If the conflict continues, Russia may be shut out of international banking altogether & may result in them not being able to repay in dollars.
Perhaps the loans could be repaid using gold or some other precious metal? It would cost extra to transport the gold to the FED or wherever the payment needs to go. Something to keep an eye on for sure!
Perhaps the loans could be repaid using gold or some other precious metal? It would cost extra to transport the gold to the FED or wherever the payment needs to go. Something to keep an eye on for sure!
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