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IMF Managing Director Kristalina Georgieva considers Russia’s possible default due to sanctions imposed against the background of the aggravation of the situation in Ukraine.
“The unprecedented sanctions imposed on Russia have driven the country into recession. According to our forecast, this recession will be deep,” said Georgieva, quoted by TASS. “In terms of default, this scenario no longer seems improbable,” she said.
In her opinion, the implementation of this scenario may be affected, firstly, by how long anti-Russian sanctions will last, and also by whether the Russian Federation will be able to pay its debts. “Neither one nor the other is yet clear,” she remarked.
Georgieva also did not rule out that the sanctions pressure on Russia will continue to increase due to how the situation affects the global economy.
In response to a question about China’s reaction to what is happening, the IMF Managing Director said that she spoke with Yi Gang, the head of the People’s Bank of China, the day before. “He expressed great concern about the death and suffering of people in Ukraine,” she said.
Also, according to Georgieva, the IMF due to the crisis in Ukraine may adjust downward the forecast for global GDP growth.
You can follow the chronicle of events around the situation with Ukraine here.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
