Russia is preparing for another critical payment

russia is preparing for another critical payment 0 qKG59q2d

Russia continues to take steps towards making critical default payments.

According to Bloomberg’s report, the country has prepared the necessary notifications for the redemption of the 2022 maturity bond and the coupon payment of the 2042 maturity bond.

The $2 billion redemption scheduled for April 4 stands out as the largest payment of the year.

The country had previously made coupon payments of 117.2 and 66 million dollars.

Russia has 15 international government bonds valued at approximately $40 billion. Before the Ukraine crisis, roughly $20 billion of this was in the hands of investment funds and fund managers outside of Russia.

Default concerns increased

After the announcement that Russia would make coupon payments on bonds in rubles to investors from ‘unfriendly’ countries, credit rating agencies He declared that the payment would mean default.

The US Treasury also announced that the sanctions imposed on the Russian Central Bank and other institutions will not prevent the country from paying its debts in dollars, at least until May.

S&P put Russia’s credit rating on negative monitoring and noted that they could default on “in case Russia fails to fulfill its debt obligations as agreed and the institution decides that it cannot make these payments within the given additional time”.

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