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Strategies & Market Trends : Asia Forum

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To: Joe Dancy who wrote (3967)	5/29/1998 7:48:00 AM
From: MikeM54321	of 9980

>>Russia's foreign debt of $145 billion is not huge as a percentage of its economy, but lenders around the world are clearly unwilling to put more on the line.<< Joe, I got the above out of your link. Thanks. I've been looking for this figure. Russia doesn't cause me too many worries, because as far as I know, Russia is not completely entangled with other countries like the Asian nations are. Russia's problems appear to be pretty isolated. My only concern is the EU's (Germany in particular) exposure to the problems of Eastern Europe. $145 billion is quite a bit for one or two countries to absorb. But if it's spread out over quite a few, then even if Russia totally collapses, I don't think it will cause a domino effect like little old Thailand did in July 97. Russia does have one of the largest oil reserves in the world (just have trouble pumping it out). So it would be pretty hard to envision them reneging on the entire $145 billion debt. I'm trying to dig up some more facts about this newly unfolding problem. FWIW, Jimmy Rogers, in his usual "sky is falling" manner, had some extremely negative comments about Russia collapsing last Friday. MikeM(From Florida)

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