Investment in Russia and Eastern Europe Message Board

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Strategies & Market Trends : Investment in Russia and Eastern Europe

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To: Thomas Haegin who wrote (276)	7/8/1998 2:16:00 AM
From: baystock	of 1301

<<In all, foreign banks have more than $72 billion of outstanding loans to the country, with nearly half of that controlled by such German banks as Deutsche Bank AG, Dresdner Bank AG and Commerzbank AG, as well as the state-owned banks, or landesbanks. About 60% of this capital is in the hands of the Russian bank sector, making any signs of weakening particularly worrisome. >> I really don't understand how some people are so confident that the ruble won't be devalued. So what if Russia doesn't have a current account deficit. $72 billion in loans from foreign banks is more than enough to trigger a currency collapse if the plug is pulled. Ram

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