Post by Global News on
Report: "Russia could pay off its entire external debt tomorrow, in cash." (Reduced by 14.9%, 57 Billion USD, Largest Economy in Europe and Fifth Largest Globally) Below excerpt reported by Aris. B. (2024, March 30). Russia could pay off its entire external debt tomorrow, in cash. bne IntelliNews 'At the same time gross international reserves have been rising and are now hovering around $600bn at the end of the first quarter. Half of these reserves are frozen. About $150bn are in monetary gold (up from $135bn pre-war) and the rest in yuan.' 'Even counting out the frozen funds, Russia can cover its external debt dollar for dollar with cash, whereas everyone in the West is massively leveraged, including the Ukraine where the debt-to-GDP ratio is almost at 100%.' 'It is these rock-solid fundamentals – no one else in world has even remotely similar metrics – which is the essence of Putin’s Fiscal Fortress. It is a ridiculously strong basis, which means even if the West manages to reduce Russia income from oil and gas exports, it will still have a massive amount of wiggle room.' 'And its ongoing commodity exports to the global south mean that it will continue to enjoy the raw materials subsidy for its economy. Because of their external debt (USA, Italy, much of G7, everyone in Africa and even China) everyone else is a lot more vulnerable to a global slow down. Russia is probably currently the least vulnerable on a macro fundamentals basis.' To read full article, click here According to AK&M Information Agency reported on January 19, 2024 - 'The external debt of the Russian Federation as of January 1, 2024, according to the Bank of Russia, amounted to $326.6 billion, having decreased by 14.9% over the year.' To read full article, click here Below excerpt reported by Aris. B. (2023, August 7). Russia overtakes Germany to become fifth biggest economy in the world in GDP on a PPP basis. bne IntelliNews 'In these terms Russia has just overtaken Germany to become the fifth wealthiest economy in the world and the largest in Europe, worth $5.3 trillion.' China: $30.3 trillion USA: $25.4 trillion India: $11.8 trillion Japan: $5.7 trillion Russia: $5.32 trillion Germany: $5.3 trillion To read full article and see full list of countries, click here Below excerpt reported by Aris. B. (2024, January 12). Despite pressure, we are largest economy of Europe: President Putin. Business Standard '"It seems that we are being strangled and pressured from every side, but still, we are the largest economy in Europe," Putin said at a meeting with entrepreneurs active in Russia's Far East, according to TASS.' '"We left Germany behind and climbed to fifth in the world [in terms of GDP at purchasing power parity]: China, the US, India, Japan and Russia. We are number one in Europe," he added.' To read full article, click here Image from bne IntelliNews Legal Disclaimer: INFYNIT is providing the content here for educational purposes only. All opinions are of the original author and not an opinion of INFYNIT or any of its affiliates. #GlobalNews #Russia #Debt #Payment #Cash
