Russia Central Bank Won’t Pay Interest On Bonds To Foreign Investors (Technical Default)

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by confoundedinterest17

Today’s news reminds me of the 1998 Russian financial crisis when I worked at Deutsche Bank.

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Today, the Russian Central Bank has decided not to pay interest on bonds worth US $ 29 billion to foreign investors (technical default). Russia’s 5.1% international bond fell from ABOVE par to 22.5.

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