International banking lobby has warned that it is 'extremely likely' Russia will default if the war

[Yo_Mama_Been_Loggin]

A default of Russian debt is likely if the war in Ukraine escalates and steep sanctions on the Russian economy remain in place, according to the Institute of International Finance.

"If we stay here and this escalates, then default and restructuring is likely," Elina Ribakoba, chief economist of the global banking industry lobby group said Monday in a media call.

The Russian economy could suffer a double-digit contraction this year, as about half of its central bank's foreign reserves are held in nations that have frozen Russian assets, she explained.

If there isn't any deescalation in Ukraine, Ribakoba said a default would be "extremely likely."

https://www.msn.com/en-us/news/world/international-banking-lobby-has-warned-that-it-is-extremely-likely-russia-will-default-if-the-war-in-ukraine-escalates/ar-AAUtmQ9

Deadbeats like Donald Trump.

[OAITW r.2.0]

1. Too bad for the investor class that made the Oligarchs and Putin rich.

I imagine that those obligations will need to be honored before new loans/investments will be made in the future.

[SoonerPride]

2. Good.

Bankrupt them

[MerryHolidays]

3. It's sad for the Russian people

Hopefully, they will realize what this mad monster has done to them and how much he and thieving henchpersons have stolen from the Russian people.

And then I hope they act accordingly. I truly do.

[RobinA]

4. But I Feel

for the Russian people. Recently I've had to learn that out of control leaders can happen anywhere.

[LakeArenal]

5. You mean Ron Johnson's accounts may default.

The checks are no good!?! Oh my.

🍀🤥🤞🏼

[zipplewrath]

6. They'll use the frozen assets

The bankers and investors will convince the governments that have frozen those assets to allow them to be used to pay them off so that Russia won't have to default.

[ZonkerHarris]

7. Will a million broke Russians starving to death change anything over there?