Ratings agencies say Russia is on the verge of defaulting on government bonds following its invasion of Ukraine, with billions of dollars owed to foreigners. That prospect recalls memories of a 1998 default by Moscow that helped fuel financial disruption worldwide.
The possibility has become more than market speculation after the head of the International Monetary Fund, Kristalina Georgieva, conceded that a Russian default is no longer an ”improbable event.”
A look at possible consequences from a Russian default:
…
Russia faces an interest payment of $117 million on two bonds denominated in dollars.
…
Russia as a whole has about $491 billion in foreign debts, with $80 billion due in the next 12 months, according to Algebris Investments.
…
https://apnews.com/article/russia-ukraine-business-europe-mo…