It's extremely likely Russia will default on its external debts and its economy will suffer a double-digit contraction this year, the Institute of International Finance warned today
Check here for live updates on how the crisis is impacting markets, Canadian businesses and the financial world.Cryptoassets have been emerging as an important funding tool in the Russia-Ukraine crisis as Ukraine raised as much as US$20.9 million in digital assets since the beginning of the Russian invasion, according to data from U.S.-based crypto analytics firm Elliptic.
Bitcoin represents the majority of cryptocurrencies being donated with Ethereum in second place . Stablecoins and other cryptoassets like non-fungible tokens have also been sent to the Ukrainian government’s Ethereum account. The G20 was supposed to bring stability, but five days into Russia’s invasion of Ukraine, it feels naive to think that a group that includes the United States, China, Russia, the United Kingdom, Saudi Arabia, and Turkey ever would have been able to accomplish much, writes theOver the weekend, the United States, the European members of the G20, and Canada imposed “restrictive measures” that they said would stop Russia’s central bank from “deploying its international reserves in ways that...
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