Go to ...

The Newspapers

Gathering and spreading news from various Russian Newspapers

The Newspapers on Google+The Newspapers on LinkedInRSS Feed

Sunday, March 26, 2017

The Central Bank considers impossible a repetition of the 1998 default


After the August 1998 crisis the Russian economy has become much more resistant to external shocks, so the repetition of the “black Monday” is now impossible, said the press service of the Bank of Russia.

The Central Bank explained his optimism that Russia has accumulated significant amounts of reserves (sovereign funds and currency reserves of Bank of Russia) has a low level of public debt and a flexible exchange rate.

Eighteen years ago in the black Monday 17 August 1998 — the Russian government and the Central Bank announced a technical default on the main types of government securities.

Related posts:
Glazyev blasted the "blind in broad daylight", guiding the Russian economy
Lukashenka is trying to capitalize on the cooling of relations between Ankara and Moscow
The Prosecutor General's office: Rosles bought useless equipment 76 billion
Russia puts a whole series of records in agriculture

Recommended

More Stories From Economy