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Russia Avoids Technical Default, But Faces $4.6bn In Payments for 2022


FX/FI MARKETS (FX Open, Stocks Closed)

  • FX markets will open again today, while stock trading remains closed.
  • It seems Russia has narrowly avoided triggering the 30-day window period for a technical default by paying its $117m coupon, with JPM & Citi confirming they received the payment yesterday.
  • Nevertheless, risks remain high with $4.6bn in payments remaining for 2022, including a $2bn bond maturing on 4 April.
MNI London Bureau | +44 020-3983-7894 |
MNI London Bureau | +44 020-3983-7894 |

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