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2022 Russian Debt Default
Russia defaulted on part of its foreign currency denominated debt on 27 June 2022, because of funds being stuck in Euroclear Bank. This was its first such default since 1918, back then it was just ruble-denominated bonds, not foreign currency debt. Before that, on 2 June, Russia defaulted on the 30-day interest, incorrectly not counting interest for the grace period, but a failure to pay $1.9 million was not sufficient to trigger a cross-default across other instruments, because the minimum threshold is an amount of at least $75 million, according to documents for other Russian eurobonds. The default occurred due to technicalities as the payment in dollars was impossible due to the sanctions by US and EU authorities, but did not mark an actual lack of capability to pay its debts. Background The United States Treasury Department in February 2022 moved to cut off Russia from the global economy after the 2022 Russian invasion of Ukraine, announcing that it would immobilize Russi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Russian Bonds
Russian(s) may refer to: *Russians (), an ethnic group of the East Slavic peoples, primarily living in Russia and neighboring countries *A citizen of Russia *Russian language, the most widely spoken of the Slavic languages *''The Russians'', a book by Hedrick Smith *Russian (comics), fictional Marvel Comics supervillain from ''The Punisher'' series *Russian (solitaire), a card game * "Russians" (song), from the album ''The Dream of the Blue Turtles'' by Sting *"Russian", from the album ''Tubular Bells 2003'' by Mike Oldfield *"Russian", from the album '' '' by Caravan Palace *Nik Russian, the perpetrator of a con committed in 2002 See also * *Russia (other) *Rus (other) *Rossiysky (other) *Russian River (other) *Rushen (other) Rushen may refer to: Places * Rushen, formally Kirk Christ Rushen, a historic parish of the Isle of Man ** Rushen (constituency), a House of Keys constituency of which the parish forms part ** Rushen (sheading ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Ministry Of Finance (Russia)
The Ministry of Finance of the Russian Federation (), also known as ''MinFin'' (Минфин России), is a Ministry (government department), ministry of the Government of Russia responsible for financial policy and general management in the field of finance. The Ministry of Finance was formed from the Ministry of Finance (Soviet Union), Ministry of Finance of the USSR in 1992 and claims descent from the Ministry of Finance of the Russian Empire first established in 1780. It is headquartered at Ilinka Street 9 in Tverskoy District, Moscow. Anton Siluanov has served as the Minister of Finance since September 2011. History The Treasury Governing body in Russia was established by Imperial Decree of Catherine the Great, Catherine II in October 24, 1780, as The Expedition of state revenues, which was, in fact, the beginning of the creation of state financial authority in Russia. Manifesto of the Emperor Alexander I of Russia, Alexander I "On approval of the Ministries" was fou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Government Debt By Country
A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a means by which organizational policies are enforced, as well as a mechanism for determining policy. In many countries, the government has a kind of constitution, a statement of its governing principles and philosophy. While all types of organizations have governance, the term ''government'' is often used more specifically to refer to the approximately 200 independent national governments and subsidiary organizations. The main types of modern political systems recognized are democracies, totalitarian regimes, and, sitting between these two, authoritarian regimes with a variety of hybrid regimes. Modern classification systems also include monarchies as a standalone entity or as a hybrid system of the main three. Historically prevalent forms ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Financial Crises
A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with Bank run#Systemic banking crises, banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial Economic bubble, bubbles, currency crisis, currency crises, and sovereign defaults. Financial crises directly result in a loss of paper wealth but do not necessarily result in significant changes in the real economy (for example, the crisis resulting from the famous tulip mania bubble in the 17th century). Many economists have offered theories about how financial crises develop and how they could be prevented. There is little consensus and financial crises continue to occur from time to time. It is apparent however that a consistent feature of bo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Economic History Of Russia
After the dissolution of the Soviet Union in 1991 and the end of its centrally-planned economy, the Russian Federation succeeded it under president Boris Yeltsin. The Russian government used policies of shock therapy to liberalize the economy as part of the transition to a market economy, causing a sustained economic recession. GDP per capita levels returned to their 1991 levels by the mid-2000s. The economy of Russia is much more stable today than in the early 1990s, but inflation still remains an issue. Historically and currently, the Russian economy has differed sharply from major developed economies because of its weak legal system, underdevelopment of modern economic activities, technological backwardness, and lower living standards. Historical background Economic history of the Russian Empire Russian national income per capita increased and moved to closer to the most developed economies of Northern and Western Europe from the late 17th century to the 1740s. After ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
2020s In Russia
S, or s, is the nineteenth letter of the Latin alphabet, used in the English alphabet, the alphabets of other western European languages and other latin alphabets worldwide. Its name in English is ''ess'' (pronounced ), plural ''esses''. History Northwest Semitic šîn represented a voiceless postalveolar fricative (as in 'ip'). It originated most likely as a pictogram of a tooth () and represented the phoneme via the acrophonic principle. Ancient Greek did not have a "sh" phoneme, so the derived Greek letter Sigma () came to represent the voiceless alveolar sibilant . While the letter shape Σ continues Phoenician ''šîn'', its name ''sigma'' is taken from the letter ''Samekh'', while the shape and position of ''samekh'' but name of ''šîn'' is continued in the '' xi''. Within Greek, the name of ''sigma'' was influenced by its association with the Greek word (earlier ), "to hiss". The original name of the letter "Sigma" may have been ''san'', but due to the earl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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 Russian rouble, ruble and sovereign default, 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 i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Russian National Wealth Fund
The Russian National Wealth Fund () is Russia's sovereign wealth fund. It was created after the Stabilization Fund of the Russian Federation was split into two separate investment funds on 30 January 2008. The National Wealth Fund (NWF) is controlled by the Russian Ministry of Finance. History The two funds were the Reserve Fund (SFRF), which was invested abroad in low-yield securities and used when oil and gas incomes fall, and the National Wealth Fund, which invests in riskier, higher return vehicles, as well as federal budget expenditures. The SFRF was given $125 billion and the NWF was given $32 billion. The SFRF was exhausted by 2017. It had been depleted by budget deficits and the low oil prices. The SFRF was emptied by the end of 2017, and therefore ceased to exist, leaving the NWF as the sole reserve fund of the Russian Federation. In October 2008 the NWF was permitted to invest in shares on the Moscow Exchange or Saint Petersburg Stock Exchange, to support t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Reuters
Reuters ( ) is a news agency owned by Thomson Reuters. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide writing in 16 languages. Reuters is one of the largest news agencies in the world. The agency was established in London in 1851 by Paul Reuter. The Thomson Corporation of Canada acquired the agency in a 2008 corporate merger, resulting in the formation of the Thomson Reuters Corporation. In December 2024, Reuters was ranked as the 27th most visited news site in the world, with over 105 million monthly readers. History 19th century Paul Julius Reuter worked at a book-publishing firm in Berlin and was involved in distributing radical pamphlets at the beginning of the Revolutions of 1848. These publications brought much attention to Reuter, who in 1850 developed a prototype news service in Aachen using homing pigeons and electric telegraphy from 1851 on, in order to transmit messages between Brussels and Aachen, in what today is Aa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Associated Press
The Associated Press (AP) is an American not-for-profit organization, not-for-profit news agency headquartered in New York City. Founded in 1846, it operates as a cooperative, unincorporated association, and produces news reports that are distributed to its members, major U.S. daily newspapers and radio and television broadcasters. Since the award was established in 1917, the AP has earned 59 Pulitzer Prizes, including 36 for photography. The AP is also known for its widely used ''AP Stylebook'', its AP polls tracking National Collegiate Athletic Association, NCAA sports, sponsoring the National Football League's annual awards, and its election polls and results during Elections in the United States, US elections. By 2016, news collected by the AP was published and republished by more than 1,300 newspapers and broadcasters. The AP operates 235 news bureaus in 94 countries, and publishes in English, Spanish, and Arabic. It also operates the AP Radio Network, which provides twice ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Moody's
Moody's Ratings, previously and still legally known as Moody's Investors Service and often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name. Moody's Ratings provides international financial research on bonds issued by commercial and government entities. Moody's, along with Standard & Poor's and Fitch Group, is considered one of the Big Three credit rating agencies. It is also included in the ''Fortune'' 500 list of 2021. The company ranks the creditworthiness of borrowers using a standardized ratings scale which measures expected investor loss in the event of default. Moody's Ratings rates debt securities in several bond market segments. These include government, municipal and corporate bonds; managed investments such as money market funds and fixed-income funds; financial institutions including banks and non-bank finance companies; and asset classes in struct ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
