Russia makes the first payment to avoid the 'default'

The country's Finance Minister has announced that the 106 million euros of the bonds due this Thursday have already been paid

Russia is facing a financial https://gromax-male-enhancement.clubeo.com/news/2022/03/16/gromax-reviews-amazing-male-formula-to-boost-sexual-performance earthquake not seen in more than a century. The reason: the non-payment of its public debt. And the so-called 'default', https://gromax-reviews.jimdosite.com/ the breach of its commitments, could reach up to 150,000 million dollars in public debt and companies referenced to foreign https://gromaxmaleenhancement.footeo.com/news/2022/03/16/gromax-reviews-results-before-after-price currency. This situation, due to the consequences it may have, keeps the rating agencies and the most exposed investors on alert.

In theory, Russia had this https://bumppy.com/tm/read-blog/29960_gromax-reviews-advanced-male-enhancement-formula-for-men.html Thursday to face a payment of 117 million dollars (about 106 million euros) in interest on two bonds of its debt. An amount that https://www.brachsmma.com/forum/general-discussions/gromax-reviews-boost-sexual-performance-work-cost is barely testimonial but that many believed that it could not cope with. However, the payment was made first thing in the morning, https://wakelet.com/wake/kEPU6MaV0ni1EsSp1_GYr as announced by the Ministry of Finance of the Putin Government. He thus distances himself from the first blow, although the https://groups.google.com/g/gromax-reviews/c/602a2rH2dn8 doubt about his bankruptcy does not dissipate. Without going any further, this month he must pay another 615 million dollars https://the-dots.com/projects/gromax-reviews-increase-size-erection-don-t-waist-your-time-668611 in the coming weeks and at the beginning of next month another 2,000 million. Whether or not he can do it remains to be seen.

The problem for Russia https://lexcliq.com/gromax-reviews-long-erection-fantastic-performance/ is not that it cannot pay because it does not have the money, but that it has it blocked. It has frozen its dollar reserves and cannot meet its commitments. https://gromax-male-enhancement.clubeo.com/news/2022/03/16/gromax-review-how-to-use-work In fact, the Kremlin has recently accused the West of causing an artificial 'default'. The solution that the country opted for to meet its https://gromax-review-1.jimdosite.com/ obligations was to make payments in rubles, but this is an option that is not possible in bonds such as those that expired this Thursday.

rating agencies

The 'rating' agencies these https://gromaxmaleenhancement.footeo.com/news/2022/03/16/gromax-review-no-1-choice-for-male-enhancement-updated-2022 days already took Russia's breach for granted. Fitch is the rating agency that has pronounced itself more emphatically. "Under Fitch Ratings' https://bumppy.com/tm/read-blog/30003_gromax-review-male-performance-matrix-for-best-results-no-side-effects.html sovereign rating criteria, the local currency payment of Russia's US dollar Eurobond coupons due March 16, if it were to occur, https://www.facebook.com/GroMax-Maximum-Drive-104461652199674 would constitute a sovereign default." There is no place for the subscription to be in rubles; It must necessarily be in dollars, in theory.

Standard & Poor's and Moody's https://www.facebook.com/GroMax-Maximum-Drive-Reviews-100402425954251 also assume, more lukewarmly than Fitch, the probability of default. (same as the International Monetary Fund). Because Russia is already https://www.facebook.com/GroMax-Male-Enhancement-109858414990763 on the verge of technical bankruptcy , although it is true that in the event of a breach it has a 30-day grace period to meet its obligations under https://www.facebook.com/GroMax-Male-Enhancement-Reviews-101274132532590 the agreed conditions. In any case, the steps that Russia's creditors are expected to take are to renegotiate a solution to the problem directly https://www.facebook.com/GroMax-Male-Enhancement-Review-106788645305105 with the Kremlin. Although the uncertainty about what can be expected is total, since the blockade situation in the country threatens https://www.facebook.com/GroMax-Reviews-100442469285354 to extend over time. For now, Russian bonds are already trading in the market at only 10%-20% of their nominal value, according to Reuters.

Financial sources, however, https://www.facebook.com/GroMax-Review-102789279045465 point out that larger entities have "mechanisms to manage this type of default", given that they already have experience from past situations https://dailylivebreakingnews.blogspot.com/2022/03/famous-political-scientist-francis.html in other countries such as Argentina or Venezuela. The intention of the financial sector with exposure to Russian debt is to remain in contact with the regulators to try to mitigate the blow and advise their clients to stay away from Russian assets as much as possible. Thus, among the investors with direct exposure to Russian debt are, among others, the giant BlackRock and also the investment firm Pimco; the latter with some 2,400 million of exposure between non-payment insurance and direct investment.