Интересное дело, у меня СиЭнБиСи постоянно со стенки вещает, и про "Раше это без разницы" за последнюю неделю не сказал ни один токинг хэд. Не, про 1998 олл овер эген никто не настаивает, но и "все хорошо, прекрасная маркиза" - это тоже перебор, или вышфулл thинкинг, пожалуй.
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Government debt not a worry
Only around $38 billion of Russia's government debt is denominated in dollars, and of that amount only around $6 billion of interest and principal payments are due in 2015, compared with around $400 billion of foreign-exchange reserves, Wells Fargo noted. With around two-thirds of government debt borrowed in rubles, the central bank can theoretically create enough rubles to pay off those creditors, the bank said.
Obviously, that creates inflation risks. The cost of Russia's borrowing has climbed recently, with its 10-year ruble-denominated sovereign bond yield around 13.00 percent Friday compared with 8.33 percent at the end of June, according to Reuters data.
Russia's central bank raised its main interest rate by 100 basis points to 10.5 percent on Thursday – the latest in a series of hikes this year as it attempts to rein in inflation and bolster the country's struggling economy, which also faces headwinds from sanctions from the West due to its conflict with Ukraine.
Credit Suisse Private Banking echoed the relatively sanguine view on Russia's sovereign debt risks, adding it expects the country's current account surplus will rise in 2015 on a combination of weaker domestic demand and the ruble's decline. In a note last week, Credit Suisse said it has a positive view on the country's sovereign hard-currency bonds on attractive valuations, but it is more cautious about buying into the local-currency ones.
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