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Description: Credit rating agencies have indicated that payments in a currency different from the one the debt was sold in would count as a default once the grace period expired.

Source: NYTimes.com

Date: Apr 06, 2022

Link: https://www.nytimes.com/2022/04/06/business/russia-eurobonds-rubles.html

Questions for discussion:

  • What is the issue about paying in an alternative currency?
  • How should this settlement of accounts be handled, in your opinion?
  • What can happen in financial markets if this issue isn’t resolved satisfactorily?
  • Do you think it will?

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