May 22, 2009
- The 1998 Russian Financial Crisis. Part 2: The Effects
The Effects
On August 17, 1998, Russia was forced by an escalating payments crisis to devalue the Ruble dramatically, declared its intention to restructure all official domestic currency debt obligations by the end of 1999 and imposed a 90 day moratorium on the repayment of private external debt, to aid its commercial banks suffering [...]
March 8, 2009
- The 1998 Russian Financial Crisis. Part 1: Course of Events
The Russian financial crisis (also called hit Russia in August 1998. It was exacerbated by the global recession of 1998, which started with the Asian financial crisis in July 1997.
