Mark Kraft on Nostr: As I've been saying for awhile, Russia's previous extreme shift to high interest ...
As I've been saying for awhile, Russia's previous extreme shift to high interest rates as a way of propping up the currency would lead to casualties.
"Kommersant calculated that in the first two months of 2024, the number of legal entities declared bankrupt increased by almost 60% year on year. Lawyers confirm that the effect of last year's moratorium on bankruptcies has been exhausted, and expect a steady... increase in the number of insolvent companies."
https://www.newsweek.com/russia-bankruptcies-economy-kommersant-1876806
"Kommersant calculated that in the first two months of 2024, the number of legal entities declared bankrupt increased by almost 60% year on year. Lawyers confirm that the effect of last year's moratorium on bankruptcies has been exhausted, and expect a steady... increase in the number of insolvent companies."
https://www.newsweek.com/russia-bankruptcies-economy-kommersant-1876806