Russia’s central bank will step in to help companies refinance their foreign debts, in Moscow’s latest promise of state resources to avert a deepening of its economic crisis.
Uncertainty over the fate of $120bn in payments due on Russian external debt next year has weighed on the economy amid a tumble in the value of the rouble and sanctions that make it hard to refinance with western lenders.
In a statement published on Wednesday, the Bank of Russia said it would lend dollars and euros to banks putting up foreign currency loans to big exporters as collateral.
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