The Biden administration’s escalation of sanctions could lead to Russia’s first default on foreign debt in a century.
Tag: Currency
Ruble Shows Signs of Recovery, but May Not Be Strong Indicator of Economy
The ruble’s stronger showing is most likely driven by artificial factors and might not be a good marker that the Russian economy is improving, one expert said.
Western Sanctions Show Russian Vulnerability in Global Economy
Even countries with limited trade relationships are intertwined in capital markets in today’s world. Could the Russia sanctions change that?
Gold Ingots From 18th-Century Shipwreck Returned to France
The Chinese ingots, illegally harvested from a French frigate that sank while returning from Nanjing, were seized by U.S. investigators when they were put up for auction in California.
Gold Ingots From 18th-Century Shipwreck Returned to France
The Chinese ingots, illegally harvested from a French frigate that sank while returning from Nanjing, were seized by U.S. investigators when they were put up for auction in California.
Russia’s Stock Market Closes and Ruble Crashes as Sanctions Hit
The hectic moves were the first signs that Western sanctions were shaking the foundations of Russia’s economy.
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.
Turkish Currency Hits a New Low, Again
The Central Bank has cut interest rates, even as inflation continues to soar, deepening President Erdogan’s disputed economic plan and setting off a new plunge in the lira.
Many Turks Can’t Afford Bread, and Bakers Can’t Afford to Make It
Squeezed by rising costs, price controls and plunging sales, bakers warn of ruin, while their impoverished former customers line up for government-supplied loaves.
How Inflation Affects Turkey’s Struggling Economy
Even before the pandemic, Turkey was trying to ward off financial meltdown. The crisis has accelerated as President Recep Tayyip Erdogan has doubled down on his unorthodox policies.