The International Monetary Fund (IMF) suggested on Thursday the possibility of Russia going bankrupt due to sanctions economics imposed by the other countries for their invasion of Ukraineand warned that the Russian economy is already contracting and headed for a deep recession.
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“The Bankruptcy of Russia is no longer an unlikely event“, said the managing director of the Fund, Kristalina Georgieva, in a digital meeting with journalists to discuss the financial implications of the war in Ukraine.
Georgieva pointed out that what will determine how strong the recession will be in Russia will be the duration of the war and the sanctions, as well as the possibility that they get harder and affect energy exports.