Russia Ukraine war, page-184853

Hi free will,

IMO the drop in the value of the Rouble is beneficial
to the Russian macro economy because Russia
is prohibited from importing from the west while at
the same time exporting oodles of oil & gas to China &
India etc. So under those circumstances a low Rouble
is beneficial and that is evidenced by its ongoing trade surpluses
(that said, economic data out of Russia and Russian economic
data compiled by the US/US agencies can be rubbery because:
"the first casualty of war is the truth"

15% interest rates will certainly slow the Russian economy
generally but Russia, unlike the USA, has moderate national
debt which gives it latitude to 'goose" its economy for years
IMO, to keep the average Russian earner/consumer happy.

And for those who like figures (however rubbery) here they are:

"How much is Russia in debt 2023?
Estimate of External Debt of the Russian Federation as of September 30, 2023. Accordingto the Bank of Russia's estimate, external debt of the Russian Federation as of September30, 2023 totaled $329.5 billion, having decreased by $54.1 billion, or by 14.1%, since theend of 2022.https://www.cbr.)


$329.5 Billion USD debt out of a GSP 2022 of $2,2 Trillion USD GDP is only
15% of GDP and of course its internal debt (given that its cut off from Global
capital markets, is simply domestic and , like the USA, can be written off
by printed money.

The question is:
How long will the 15% interest rate last for and what impact, if any , will
that have on the Russian economy given that the IMF (above) has raised
Russian GDP expectations to + 2.2%

IMO, Russia will promptly convert its ongoing trade surpluses into gold....promptly.