Tag: foreign debt

Russia ‘Defaults on Foreign Debt’ for First Time Since 1918 Amid Western Sanctions

Russia on Sunday defaulted on its foreign debt for the first time since 1918 after the grace period on its $100 million payment expired, according to reports. The $100 million interest payment deadline due to be met by the Kremlin had initially been set to May 27 but a 30-day grace period was triggered after investors…


Debt-Ridden Sri Lanka Halts Share Trading for 5 Days Amid Mounting Crisis

Sri Lanka’s Colombo Stock Exchange (CSE) was ordered to close the stock market for five days from April 18 after the government announced its decision to suspend repayment of billions of dollars in foreign debt. The Sri Lanken Securities and Exchange Commission (SEC) said in a statement on April 16 that CSE’s board of directors…


Russian Debt Default ‘Priced-In’ by Investors But Risks Remain, ‘Butterfly Effect’ Could Impact Multiple Entities

Russia’s attack on Ukraine and the resulting international sanctions have triggered fears of a potential debt default by Moscow, something which economist William Jackson says is unlikely. A Russian default will likely be “symbolic” and not have any significant consequences within Russia or elsewhere, Jackson, the chief emerging markets economist at Capital Economics, said in…