WASHINGTON — RWith economies in Europe, Japan, China and Latin America already ailing, fresh threats have emerged fromRussia’s shriveled currency, its move to dramatically boost interestrates, the damage from plummeting oil prices and Western sanctions over Russia’s action in Ukraine.
The alarming 10 percent drop in the ruble over the past two days has amplified the economic turmoil in Russia. Investors fear that Russia may default on its foreign debt obligations — a move that would inflict hundreds of billions in losses on lenders abroad.
Some analysts also worry that tensions will further escalate between Russia and the United States and its …read more
Source: The Philippine Daily Inquirer
