Outside Publication

Crunch Time, International Finance Magazine

Oct – Dec 2014

Russia’s central bank has recently stated that Russian banks and corporate will have to repay $134bn in external debt between now and the end of 2015. With access to both the bond and bank markets restricted due to the recent EU and US sanctions against certain Russian individuals and corporates and sectoral sanctions affecting the finance and oil industries, it is unclear how this debt will be refinanced. According to Moody’s, most Russian companies may have sufficient liquidity to meet 2015 debt maturities and, therefore, the credit crunch is likely to hit hardest in 2016 with the metals and mining, real estate and construction sectors suffering the most.

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