US EditionRussian Banking Officials Warn of Hidden Risks as Debt Concerns Mount
18 Articles
18 Articles
Russia is on the verge of a massive crisis, writes Iltalehti. Russian bankers warn of growing debt problems in the country. The head of Russia's largest bank has described the situation as a "perfect storm".
Russia’s reserve fund nears depletion as budget gap widens
Russia’s National Wealth Fund is shrinking. The fund, used to support the economy amid sanctions and military expenditure, held nearly 10 trillion roubles at the start of the war. By the end of May, the balance had fallen to 2.843 trillion roubles, or about €30 billion. The fund may run out by the end of the year. Russia’s finance ministry expects a budget deficit of 3.8 trillion roubles for 2025, exceeding what remains in the fund. The fund had…
Russian banking officials warn of hidden risks as debt concerns mount
Russia’s banking sector faces a growing threat of a systemic crisis within the next 12 months, with internal assessments suggesting a more fragile outlook than official statements imply, Bloomberg News reported on June 26.
The Russian economy is facing a deterioration of the outlook, more serious than public recognition, with a credible risk of a systemic banking crisis in the next 12 months, according to Russian banking officials, reports Bloomberg.
Russian banks are facing a massive increase in loan defaults and warn of the threat of a full-fledged banking crisis in the country in the next 12 months.
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