|
Russian Financial Crisis (2014–present)
Russian financial crisis may refer to: * 1998 Russian financial crisis * Great Recession in Russia (2008–2009) * Russian financial crisis (2014–2017) Russian financial crisis may refer to: * 1998 Russian financial crisis * Great Recession in Russia (2008–2009) * Russian financial crisis (2014–2017) Russian financial crisis may refer to: * 1998 Russian financial crisis * Great Recession in ... * 2022 Russian financial crisis, which began in the aftermath of the Russian invasion of Ukraine. {{disambig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1998 Russian Financial Crisis
The Russian financial crisis (also called the ruble crisis or the Russian flu) began in Russia on 17 August 1998. It resulted in the Russian government and the Russian Central Bank devaluing the ruble and defaulting on its debt. The crisis had severe impacts on the economies of many neighboring countries. Background and course of events The Russian economy had set up a path for improvement after the Soviet Union had split into different countries. Russia was supposed to provide assistance to the former Soviet states and, as a result, imported heavily from them. In Russia, foreign loans financed domestic investments. When it was unable to pay back those foreign borrowings, the ruble devalued. In mid-1997 Russia had finally found a way out of inflation. The economic supervisors were happy about inflation coming to a standstill. Then the crisis hit and supervisors had to implement a new policy. Both Russia and the countries that exported to it experienced fiscal deficits. The cou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Recession In Russia
The Great Recession in Russia was a crisis during 2008–2009 in the Russian financial markets as well as an economic recession that was compounded by political fears after the war with Georgia and by the plummeting price of Urals heavy crude oil, which lost more than 70% of its value since its record peak of US$147 on 4 July 2008 before rebounding moderately in 2009. According to the World Bank, Russia's strong short-term macroeconomic fundamentals made it better prepared than many emerging economies to deal with the crisis, but Russia's underlying structural weaknesses and high dependence on the price of a single commodity made the crisis' impact more pronounced than would otherwise be the case. In late 2008 during the onset of the crisis, Russian markets plummeted and more than $1 trillion had been wiped off the value of Russia's shares, although Russian stocks rebounded in 2009 becoming the world's best performers, with the MICEX Index having more than doubled in value a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Russian Financial Crisis (2014–2017)
Russian financial crisis may refer to: * 1998 Russian financial crisis * Great Recession in Russia (2008–2009) * Russian financial crisis (2014–2017) Russian financial crisis may refer to: * 1998 Russian financial crisis * Great Recession in Russia The Great Recession in Russia was a crisis during 2008–2009 in the Russian financial markets as well as an economic recession that was compound ... * 2022 Russian financial crisis, which began in the aftermath of the Russian invasion of Ukraine. {{disambig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
