An Analysis of Russia's 1998 Meltdown: Fundamentals and Market Signals

@article{Kharas2001AnAO,
  title={An Analysis of Russia's 1998 Meltdown: Fundamentals and Market Signals},
  author={Homi Kharas and Homi J. Brian Sergei Pinto and Homi J. Brian Sergei Ulatov},
  journal={Brookings Papers on Economic Activity},
  year={2001},
  volume={2001},
  pages={1 - 68}
}
  • Homi Kharas, Homi J. Brian Sergei Pinto, Homi J. Brian Sergei Ulatov
  • Published 2001
  • Economics
  • Brookings Papers on Economic Activity
  • ON AUGUST 17, 1998, a little more than a month after an international package of emergency financing and economic reforms was announced, Russia was forced to devalue the ruble.(1) Russia also declared its intention to restructure all official domestic currency debt obligations falling due to the end of 1999 and imposed a ninety-day moratorium on the repayment of private external debt, to aid its commercial banks. The moratorium also applied to these banks' obligations from short positions on… CONTINUE READING
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