business
Wednesday, December 24, 2014
The debt of Russian companies abroad is about 600 billion dollars. However, the Western sanctions hamper the ability of repayment. Now Russia’s central bank wants to help out with currency – and assumes risks .
The ruble crisis makes Russia always more to do. To mitigate the impact of the decline in value, the central bank said now ready with high debt abroad to engage leading companies under the arms. She wanted the company provide dollar and euro, deposited their loans as collateral in return. This assumes the central bank de facto the risks.
Overall, Russia’s state-owned companies, banks and private companies have accumulated a debt of $ 600 billion abroad. Of which are due $ 100 billion in the coming year. The sanctions imposed by the West for Ukraine crisis have the potential of repayments extremely limited. Companies and banks have the debt market in the West no longer have access.
The Russian Ministry of Finance, however, wants to sell in the near future no further foreign exchange reserves to support the ruble. There was no structural reasons for further devaluation of the national currency, Finance Minister Anton Siluanow said, according to a report by the Interfax news agency. Rather, the Treasury expects a resurgence of rubles. Late last week, the Russian Central Bank had supported the ruble interventions with a total of 920 million US dollars.
Russia wants to have money back from France
The outlook for the new year, experts say little rosy. The rating agency Moody’s expects that the Russian economy will shrink by 5.5 percent in 2015, making it more pessimistic than the central bank, which assumes a decline of around 4.5 percent. Rival Standard & amp; Poor’s (S & P) therefore has threatened to downgrade to junk status Russia. The current credit rating of “BBB-” – just one notch above speculative – is set to “credit watch negative” and therefore under special observation. A further downgrade would raise the cost of borrowing of the Russian state further. This brought the ruble under pressure again.
More aboutMeanwhile, Russia demanded by France, the reimbursement of funds for two warships. French President Francois Hollande had put his extradition in Ukraine crisis on ice. France must fulfill the contract, the Secretary of Defense, Anatoly Antonov told the Interfax news agency. “All modalities such as delivery date, penalties and procedures are established. Us is a repayment,” he said.
France is due to the 1.2 billion-euro business for months under pressure from its Western allies. They want the government in Paris canceled the agreement. But France fears that this could jeopardize other defense projects.
Source: n-tv.de
No comments:
Post a Comment