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St. Petersburg manicure chain «Kistochki» caught up with default

A chain of manicure salons in St. Petersburg found itself in a difficult financial situation. The business turned out to be unable to redeem 75% of bonds in the amount of 30 million rubles. On May 12, the company announced that on June 2, 2022 (by the loan expiration date) it would not be able to pay the necessary amount off in full, but only in the amount of 10 million rubles. As for the rest of the debt, the firm is ready to restructure it, if the plan is supported by creditors. The issuer of...

SRI LANKA: WHY DID DEFAULT TAKE PLACE IN THE COUNTRY?

... 18.7%. This is the highest figure in the last fourteen years (since November 2008). Experts expect that in May it could reach 28% due to rising commodity prices. Sri Lanka's external debt is estimated at $35 billion. The authorities call the current default the last opportunity to prevent further development of the financial situation according to the worst scenario.

Russian Railways defaulted on Eurobonds

... sanctions applied against the company. This was the first event of this kind since the introduction of restrictive measures due to the situation in Ukraine. The incident was reported by Bloomberg , indicating that Russian Railways was declared in default due to non-payment of its obligations on time. The agency reports that this was due to Eurobonds that were issued two years earlier. Their value was fixed in Swiss francs, and in rubles amounted to about 22 billion rubles. In this situation, the ...

Prime Minister of Lebanon: "The state has gone bankrupt…What a pity."

Lebanon became the first country in the world to go into default in 2022. But this bankruptcy is far from the first in the modern history of the republic. In 2020, Lebanon already defaulted, but now it has come to the Central Bank (Banque du Liban). Information about the insolvency of the republic was published ...

Sanctions threaten Russian companies with technical default

Organizations in Russia found themselves in a state of technical default if they do not pay their debts on foreign currency loans and Eurobonds. Foreign firms block payments from companies whose shareholders are under the sanctions of EU. Some companies have already faced difficulties in conducting financial transactions,...

Russia's plans to sell gas for rubles did not suit buyers

.... We should recall that, according to the logic of the Russian authorities, the transition to payment in rubles is a consequence of the freezing of Russian foreign exchange reserves in the US and the EU. The state considers such a step as a de facto default of the financial institutions of the Western countries to the Russian Federation. Under these conditions, "unfriendly" countries will have to buy rubles from Russia in order to pay for energy resources with them. Russian experts believe ...

VK announced the risk of default in company

VK (formerly Mail.ru Grou) warned of a possible default in the company. It is possible due to the suspension of trading on the London Stock Exchange, which may lead to the desire of shareholders to sell their securities when trading resumes. A press release on the current situation was published ...

Head of the IMF admitted the possibility of default in Russia

According to IMF Managing Director Kristalina Georgieva, a default may soon occur in Russia. The reason for this may be the sanctions imposed on the country against the backdrop of events in Ukraine. However, Georgieva stressed out that she had no intention of speculating on this topic. Earlier, the International ...

74 countries are at risk of bankruptcy due to the pandemic

The World Bank warns of the possibility of defaults of the poorest countries of the world due to debts that arose against the background of the pandemic. In 2022, payments on loans and credits taken by a group of 74 states from international financial organizations and individuals will amount ...

Will Rusnano file for bankruptcy ?

... November 19, Rusnano announced its debt obligations for 150 billion rubles. Shortly before that, the regulator temporarily suspended trading the company's bonds on the Moscow Stock Exchange. Now the experts are discussing whether Rusnano will face a default, but how the possible bankruptcy of a state corporation may affect the economic situation in the Russian Federation? Expert Marat Bashirov in his personal telegram channel calls Rusnano a virtual bankrupt. According to the political scientist,...

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