Government bond interest must be paid on the 21st, 28th, and 31st Russia bond interest payment schedule – Bloomberg
Reporter Park Hyung-ki = As Russia paid interest on government bonds due on the 16th, the default crisis was over. However, Russia is not completely out of the crisis of default.
This is because the maturity date for interest payments on government bonds is approaching one after another. Although the turning point has been overcome on the 16th, Russia has to pay three more interest rates on all government bonds in March alone.
On the 21st, 28th and 31st, Russia will also have to pay interest on government bonds. You have to pay $183 million on the 21st, $285 billion on the 28th, and $731 million on the 31st.
As well as in March, Russia must continue to pay interest on government bonds in April and May. This means that Russia is not completely out of the default crisis.
First, Russia paid interest on the 16-day government bond. Russia paid interest on treasury bonds totaling $117 million today.
JP Morgan, a famous US investment bank, said, “Russia paid interest on government bonds in dollars and transferred it to the relevant bank, Citibank, etc.”
The payment was seen as a test of Russias ability to repay its external debt. As Russia invaded Ukraine, it was expected that Russia would be ousted from the global financial settlement system and unable to pay interest on government bonds in dollars.
Nevertheless, Russia paid interest on government bonds to overcome the default crisis.
It is true that Russia is short of hard currency, such as the dollar, due to the Swift ouster. So where did they get their dollars?
Russia has a secret vault at the Swiss bank. Of course, not all of them are property of the Russian government. It is the personal property of Russian Oligaki, including President Vladimir Putin.
The total amount deposited in Swiss bank secret accounts is estimated at $213 billion, Reuters reported on the 17th.
Swiss Central Bank Headquarters. © Reuters = News 1
The Swiss Bankers Association revealed that Swiss banks held about $213 billion in assets in Russian Oligaki.
The SBAs disclosures deviate from the usual secrecy of Swiss banks. However, the SBA is said to have disclosed it in the sense that it opposes the Russian invasion of Ukraine.
This has sparked a debate about secret accounts in Switzerland, Reuters reported.
In any case, Russia has overcome the default crisis by paying interest on government bonds, contrary to the expectations of the West. However, as the war with Ukraine is already in its fourth week, it is questionable whether Russia will be able to continue paying interest on government bonds in the future.
