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Head of the IMF admitted the possibility of default in Russia

... uncertainty. As a side effect of the current situation, Georgieva named the increase in commodity prices, which in turn could hinder further growth and create difficulties for the global economy. The head of the IMF noted that Russia will definitely enter a recession, but neighboring countries in Europe and Asia may suffer as well. Speaking about the possibility of a default in the country, Georgieva noted that this scenario no longer seems unbelievable.

SPAIN FACES THE WORST ECONOMIC SITUATION IN 120 YEARS

The past year was not easy for Spain: the country reported the largest public debt in a century. Its size exceeded 1.3 trillion euros and amounted to more than 117% of the kingdom's GDP. At the very beginning of the pandemic, many economists sounded the alarm, stating the possible large-scale negative consequences. Throughout the year, the states, balancing between the health of their citizens and the need to maintain the economy, demonstrated different models for solving one common problem. In...

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