Usually, the way a country ends up with a lot of foreign debt is - TopicsExpress



          

Usually, the way a country ends up with a lot of foreign debt is by running trade deficits, using borrowed funds to pay for imports. But Russia hasn’t run trade deficits. On the contrary, it has consistently run large trade surpluses, thanks to high oil prices. So why did it borrow so much money, and where did the money go? Well, you can answer the second question by walking around Mayfair in London, or (to a lesser extent) Manhattan’s Upper East Side
Posted on: Sat, 20 Dec 2014 09:57:05 +0000

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