At the G-20 meeting in Antalya, Turkey, on November 16, Russia’s President Vladimir Putin proposed that Russia could restructure the $3 billion Eurobond that he lent former Ukrainian President Viktor Yanukovych in December 2013. It comes due on December 20.This was a sudden change of policy. Until that moment, the Kremlin had insisted on being paid on time and in full. The reason for the change is that the Kremlin had been outwitted by the International Monetary Fund (IMF). The IMF has had an old practice of not “lending into arrears,” that is, not lending to a country that has …read more
Source: Atlantic Council