Latest News for: Currency default

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Rouble heads away from 50 vs dollar as authorities flag interventions

Reuters 29 Jun 2022
The rouble has become the world's best-performing currency this year, ... Capital controls have enabled the currency to shrug off what the White House and Moody's credit agency said on Monday was the first default by Russia in more than a century on its international bonds.
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Interest rates are fuelling a debt crisis in the developing world

New Statesman 29 Jun 2022
News that Russia has defaulted on its foreign currency debt for the first time since 1918, when the Bolsheviks repudiated the tsar’s debts, has renewed concern of a wider sovereign debt crisis, perhaps echoing that of the 1980s and 1990s when poorer countries across the world found themselves trapped by unpayable loans.
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Russia's Default Is A Reality As Grace Month Is Over

MENA FN 29 Jun 2022
(MENAFN - ValueWalk) Russia's default has finally arrived on its sovereign debt in foreign currency for the first time in more than a century. Moscow has been unable to pay the interest on two bonds ... .
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Crypto hedge fund Three Arrows Capital has entered liquidation, source says

The Times of India 29 Jun 2022
Singapore-based 3AC is one of the higher profile crypto investors to have run into difficulties following the sharp sell-off in the market for digital currencies seen in recent months. Crypto broker Voyager Digital issued 3AC with a default notice on Monday ...
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Sri Lanka IOC provides fuel as government pumps go dry in island nation

The Times of India 29 Jun 2022
COLOMBO ... The government issued tokens to vehicles that had waited in long lines for over 3 days ... The nearly-bankrupt country, with an acute foreign currency crisis that resulted in foreign debt default, had announced in April that it is suspending nearly $7 billion foreign debt repayment due for this year out of about $25 billion due through 2026 ... .
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EXPLAINER: What’s the impact of a Russian debt default?

India TV 28 Jun 2022
On Monday, the rating agency company Moody’s declared the country in default ... In response, the Russian Finance Ministry said it would pay dollar-denominated debts in rubles and offer “the opportunity for subsequent conversion into the original currency.” Before Moody’s declaration, it was largely believed that Russia was in default.
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Russia fails to pay debt but denies default

Manila Standard 28 Jun 2022
Russia said Monday that two of its debt payments were blocked from reaching creditors, pushing the country closer to its first foreign default in a century due to sanctions over the Ukraine offensive ... “These claims about default, they are absolutely wrong,” he said, adding that Russia settled the debt in May.
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EXPLAINER: What's the impact of a Russian debt default?

The Paducah Sun 28 Jun 2022
LONDON (AP) — Russia has defaulted on its foreign debt for the first time since the Bolshevik Revolution more than a century ago, further alienating the country from the global financial system following sanctions imposed over its war in Ukraine ... On Monday, the rating agency company Moody's declared the country in default.
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What does default mean for Russia

Beijing News 28 Jun 2022
Western media are reporting that Russia is facing a default on its foreign debt for the first time since 1918 ... What is Russia's reaction to default claims?. Moscow has rejected the allegations and has accused Washington of trying to engineer an artificial default, explaining that the country is willing and able to service its foreign debt.
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What does foreign debt default mean for Russia

Beijing News 28 Jun 2022
Western media is reporting that Russia is facing a default on its foreign debt for the first time since 1918 ... What is Russia's reaction to default claims?. Moscow has rejected the assertions and has accused Washington of trying to engineer an artificial default, explaining that the country is willing and able to service its foreign debt.
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Russia defaults on debt: what are the long-term impacts?

Invezz 28 Jun 2022
Even in the case of a default, pinning down if one has occurred or not, depends on the interpretation of “alternative payment currency and fiscal law clauses”, or in more dire circumstances, could even lead to litigation ... for declining hard currency reserves.”.
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Russia defaults on foreign debts: Moody's

Anadolu Agency 28 Jun 2022
Global rating agency Moody's announced that Russia has defaulted on to foreign debts worth $100 million ... "We have held the view that we would likely treat payments in rubles as a default for bonds that do not allow for such redenomination in the contractual terms ... "Such an event constitutes a default on the unrated debt under our definition.".
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What's the impact of a Russian debt default?

SCNOW Morning News 28 Jun 2022
LONDON (AP) — Russia appeared to default on its foreign debt for the first time since the Bolshevik Revolution more than a century ago, further alienating the country from the global financial system following sanctions imposed over its war in Ukraine ...For all practical purposes, Russia is in default,” said Jay S.
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Rouble firms towards 53 vs dollar after West says Russia is in default

Reuters 28 Jun 2022
MOSCOW, June 28 (Reuters) - The rouble firmed towards 53 to the dollar on Tuesday due to capital controls and month-end taxes that offset a negative impact of Western statements that Russia has defaulted on its international bonds for the first time in more than a century.
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Moody’s Declares Russia in Default

Moscow Times 28 Jun 2022
Moody's ratings agency has confirmed that Russia defaulted on foreign debt for the first time in a century after bondholders did not receive $100 million in interest payments ... The Kremlin dismissed reports that it defaulted on its external debt Monday, saying the payment had been made in foreign currency in May.

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