Go to ...

The Newspapers

Gathering and spreading news from various Russian Newspapers

The Newspapers on Google+The Newspapers on LinkedInRSS Feed

Saturday, November 25, 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:
"Fools or charlatans": the economist Sonya explained the mistake of the supporters of impo...
A contract thief with the victim
Putin forgive Erdogan and promised to give gas to Turkey
Kiev is trying to hide the truth from pensioners

Recommended

More Stories From Economy