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Russia faces a wave of bankruptcies as borrowing costs skyrocket (www.intellinews.com)

submitted 3 days ago by MicroWave@lemmy.world to c/world@lemmy.world

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Summary

Russian businesses are facing severe financial stress as the Central Bank of Russia's interest rate hits 21%, with further hikes expected.

High borrowing costs, especially for companies with floating-rate loans, have pushed many towards a debt crisis, with interest payments consuming up to 75% of earnings.

Rising corporate bankruptcies, late payments, and stalled investments signal deepening economic distress. Key industries, including retail, real estate, and manufacturing, are especially vulnerable.

The situation is expected to worsen as the economy cools and interest rates remain high, potentially triggering a financial crisis.

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[-] MCasq_qsaCJ_234@lemmy.zip 8 points 3 days ago

The Russian crack

this post was submitted on 12 Nov 2024

170 points (98.9% liked)

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