South Africa may benefit from Russian crisis: Russia’s 1998 debt default sent emerging market indices plummeting. But now, emerging markets, including South Africa, are better shielded
’s economic crisis escalates, in the wake of a slew of war-related financial sanctions from the West, the Kremlin risks being pushed to a debt default.
If this happens, it will be Russia’s first sovereign default since its financial crisis in 1998, which spread virulently through emerging market economies worldwide — causing various countries’ market indices to plummet.Subscribe to the M&G today for just R30 for the first three months* to gain access to this story and all our best journalism, subscriber-only newsletters, events and a weekly cryptic crossword.
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