World May 3, 2022
Russia swerves to avoid default: What's next?
Russia's $40 billion in international bonds and the chance of a default have become the focus of global financial markets since it was hit with sanctions.
Russia's $40 billion in international bonds and the chance of a default have become the focus of global financial markets since it was hit with sanctions.
Foreign creditors would typically try to band together to negotiate, go to court or in some cases seek arbitration in cases of default, but current sanctions make this difficult.
Some have expressed outrage at the glitzy promotion of the plan to push the cryptocurrency in a nation beleaguered by inequality, violence and poor public services.