Sanctions have isolated the country financially, driven down the value of the ruble and cut off Moscow’s access to about half its foreign currency reserves.
Tag: Credit and Debt
With Property Sales Plunging, China Evergrande Faces More Protests
The developer has tried for months to signal that its $300 billion debt problem was under control. But the challenges keep mounting.
Cashing In Grandma’s Gold Coins, a Turkish Family Struggles to Get By
As inflation soars and the value of Turkey’s currency plummets, one couple described how working families can’t make ends meet and have had to cut back on basic necessities as well as life’s smaller pleasures.
China Evergrande Has Defaulted on Its Debt, Fitch Says
A ratings agency’s declaration confirmed what investors had already suspected, but they now must wait on a restructuring plan overseen by the firm hand of Beijing.
China Evergrande Troubles Spread Through Property Sector
Global markets just weeks ago were fretting over the possible failure of Evergrande. Now the developer says the worst is over, even as other companies show signs of trouble.
Men in Gaza Imprisoned Over Wedding Loans
Like many men in Gaza, Wasfi al-Garosha regularly returns to prison for failing to repay a wedding loan. His trip back, always on foot, reveals much about the stresses of life in the Strip.
‘Squid Game,’ the Netflix Hit, Taps South Korean Fears
The dystopian Netflix hit taps South Korea’s worries about costly housing and scarce jobs, concerns familiar to its U.S. and international viewers.
China Evergrande’s Shares Are Halted as Doubts Swirl
The property giant, which cited a pending “major transaction,” owes billions. Investors worry that a collapse could hit broader markets.
China Evergrande Bond Payment Remains Uncertain
A payment on the troubled Chinese company’s dollar-denominated bonds was due Thursday. Its shares fell on Friday after the company said nothing.
China Evergrande Warns of Financial Pressure, Hires Advisers
China Evergrande hired restructuring experts, sending its shares lower and adding to worries about what its fate might mean to the country’s economy.