If you think Covid-19 has only affected the pocket of Joe Public, think again. With high spending and dwindling national assets, the Russian government now owes more money than the sum total of reserves in the country’s coffers.
In practical terms, the effect is more of a dent to national pride than any real danger to the country’s economy. After all, every single G7 state, not to mention India and China, would be unable to pay off its debts if urgently required. However, Moscow has placed a high value on not being beholden to creditors.
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