WASHINGTON: Russia may default on its debts in the wake of unprecedented sanctions over its invasion of Ukraine, but that would not trigger a global financial crisis, International Monetary Fund Managing Director Kristalina Georgieva said on Sunday .
The war and the sanctions would also have significant spillover effects on neighbouring countries that depended on Russia energy supplies, and had already resulted in a wave of refugees compared to that seen during World War Two, she said.The sanctions were also limiting Russia's ability to access its resources and service its debts, which meant a default was no longer viewed as"improbable," Georgieva said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ukraine says expects new wave of Russian attacks on besieged cities as Russia presses offensive
Source: STForeignDesk - 🏆 4. / 71 Read more »
Brits to get £350 a month to open homes to Ukraine refugeesLONDON: Britain will pay people to open their homes to Ukrainians fleeing the Russian invasion as the government moves to deflect anger over its response to the fastest-growing refugee crisis
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Unease and stoicism on Finland's Russian borderIMATRA: In her wooden, snow-covered house 20 minutes from Russia, Maija Poyhia wears a traditional blue headscarf that her mother carried with her when fleeing the Soviet invasion of Finland during World War II. In Finland,
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Russian official warns Finland, Sweden against joining NatoHis predeessor saw hell in Findland. Let him try the Finns. Russia is threatening every neighbour. straits_times The invasion of Ukraine has proven the leadership decision of all those nations that joined NATO a right one.
Source: STForeignDesk - 🏆 4. / 71 Read more »
Ukrainian soldier thanks Britain as missiles wreck Russian tanks
Source: STForeignDesk - 🏆 4. / 71 Read more »
Ukraine says Russian forces kill 7 civilians in evacuation convoyLVIV: Ukraine accused Russian forces on Saturday (Mar 12) of killing seven civilians in an attack on women and children trying to flee fighting near Kyiv, and France said Russian President Vladimir Putin had shown he was not ready to make peace. The Ukrainian intelligence service said the seven,
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »