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05:51 PM
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Russia is about to default on $150 billion
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In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Anonymous Coward 72056171:MV81MDgyMzM2XzkzMTQ4MzA1X0Q3ODU5OEFC] [quote:Anonymous Coward 77706418:MV81MDgyMzM2XzkzMTQ2NDEzX0MyNkQ2RDY5] [quote:Anonymous Coward 80426978:MV81MDgyMzM2XzkzMTQ1MDY1XzcxRjM1OUE5] Thas chump change will not even are a dent [/quote] [quote:Anonymous Coward 81107803:MV81MDgyMzM2XzkzMTQ1MDg3XzE3RTE1MEI=] Mere chump change in today's world. :yawn: [/quote] Yawn..looks like we got idiots with no education. Try paying that debt off with a ruble dollar that is worth 1 penny of the U.S. dollar or equivalent western currency of other nations. Suddenly that 150 billion is like 150 trillion. Now let me ask you, How do you like them apples?? muhhahahahahahaha [/quote] Russia haz a fiat currency central bank and can just print it up like the Fed does with the dollar. [/quote]
Original Message
The government says that all debt will be serviced, though it will happen in rubles as long as sanctions — imposed because of the war — don’t allow dollar settlements. Failure to pay, or paying in local currency instead of dollars, would start the clock ticking on a potential wave of defaults on about $150 billion in foreign-currency debt owed by both the government and Russian companies including Gazprom, Lukoil and Sberbank.
[
link to www.bloomberg.com (secure)
]
This is about to get very interesting.
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