According to experts, there are only a few days left before the official announcement by the Russian government - this could happen this or next week.
The managing director of the International Monetary Fund said:
Sanctions are having a rather harsh impact on the Russian economy. We expect a deep recession in Russia. We no longer consider a default in the Russian Federation impossible.
However, the Russian government denies this possibility and declares its readiness to make payments on foreign obligations in Russian currency and with a murky registration process with local banks.
Since, according to the terms of the agreements, payments had to be made in foreign currency, and a default is a violation of the terms of payments, we understand that the option proposed by the Russian government does not solve the problem it faces at all.
Default at the level of the state or large corporations leads to the fact that foreign investors either do not come to the country at all, or with risk conditions.
For those who are not aware of what happened during the last default in Russia in 1998, we advise you to watch this video.
In short, in less than six months, the ruble exchange rate fell three and a half times - from 6.8 rubles per dollar before default up to 21-22 rubles. Banks and businesses went bankrupt en masse, small businesses simply went bankrupt.
It seems there is a good opportunity to make at least x3 in rubles over the next month!
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