Economist Dmitry Prokofiev stated that Russia's financial sovereignty depends on its ability to issue its own currency and conduct monetary policy, noting the ruble's sensitivity to oil prices. He explained that Russia acts as a creditor due to its export surplus, enabling it to service its foreign debt.
Financial analyst Mikhail Belyayev stated that there is no economic reason for Russia to rush to repay its foreign debt, which amounts to about 10% of GDP. He advised using available funds for domestic development projects instead.
The Indian rupee hit a record low of 95.7450 against the US dollar due to rising oil prices, overseas debt repayments, and importer demand, despite RBI interventions. Economists link the pressure to the US-Iran conflict, which has increased oil prices by nearly 50% since February 28, causing the rupee to weaken by over 5% in the same period.
UNDP report reveals women bear disproportionate burden when developing countries face rising debt costs, with 22 million women's jobs lost short-term and 38 million long-term between early 2010s and 2022. Women experience 17% income decline per capita during high debt-servicing periods while men's income remains unchanged, as cuts to education and care sectors disproportionately affect female employment.
French President Emmanuel Macron and Greek leaders call for delaying Covid-19 debt repayment and issuing more EU bonds during Macron's visit to Athens. The €1.8 trillion EU budget negotiations are described as "extremely difficult" by Italian PM Giorgia Meloni at the EU summit in Cyprus, where leaders also discussed Ukraine, defense, and tensions with Hungarian PM Viktor Orbán.
French President Emmanuel Macron and Greek Prime Minister Kyriakos Mitsotakis on Saturday called for extending the repayment of the EU's post-pandemic Recovery Fund and issuing new EU debt to finance investment in defense, space and AI. The leaders of the EU's most and third most indebted countries argued against rapid repayment, with Macron calling such a stance "idiotic." They face opposition from frugal northern EU members, particularly Germany, ahead of tense negotiations on the €1.8 trillion budget for 2028-2034.
