Ratings agencies say Russia is on the verge of defaulting on government bonds following its invasion of Ukraine, with billions of dollars owed to foreigners. That prospect recalls memories of a 1998 default by Moscow that helped fuel financial disruption worldwide.
The possibility has become more than market speculation after the head of the International Monetary Fund, Kristalina Georgieva, conceded that a Russian default is no longer an "improbable event."
A look at possible consequences from a Russian default:
WHY ARE PEOPLE SAYING RUSSIA IS LIKELY TO DEFAULT?
On Wednesday, Russia faces an...
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