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Classic Tale of Inflation to Recession
Words: 703 Length: 2 Pages Document Type: Essay Paper #: 12627865
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ussian Public Debt Downgrade

The ussian economy is heading into a deep recession: the projected average growth over the next three years has been estimated at 0.5%. The years of the ussian oil boom are fading fast and tensions continue to rise with the West, in light of ussian pugilistic actions in the Ukraine. Standard & Poor's has judged the ussian government's prospects for servicing the debt as continuing to narrow, with few options left for the central bank of ussia to employ: available mechanisms are scaffolding for the teetering ussian banking sector or propping up the ruble. Following the credit downgrade, the ruble fell 7% in after-hour trading to reach a new low of 68 rubles to the dollar.

In what appears to be a terrible and perfect storm, the ussian economic growth prospects are diminished, the flexibility of the monetary policy of the ussian Federation has weakened, and…


Kramer, A.E. (2015, January 26). S.&P. cuts Russian debt one notch to junk level. The New York Times.

Krugman, P. (2014, December 18). Notes on Russian debt. The New York Times.

Meola, A. (2015, February 23). Yandex N.V. (YNDX) stock falls today on Russia debt rating downgrade, possible Ukraine sanctions. Retrieved from 

Panin, A. (2105, January 12). Russian banks plead for interest rate cut as borrowing costs spiral. The Moscow Times. Retreived from