Russian debt default: two experts explain what it means for Russia and for global financial markets
By Nasir Aminu, Senior Lecturer in Economics and Finance, Cardiff Metropolitan University
Rodrigo Olivares-Caminal, Professor of Banking and Finance Law, Queen Mary University of London
Russia’s recent default on its foreign debt – it’s first since 1918 – has been hailed as proof that the sanctions imposed by western governments since the invasion of Ukraine in February are working.
A 30-day grace period on US$100 million (£82 million) in interest on two bonds ended on June 27 2022, with Russia’s repayments on this foreign debt not…
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- Friday, July 1st 2022