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The first racket of the world Serbian Novak Djokovic noted progress of Russian Daniil Medvedev whom he beat in a match of the fourth round of the Open championship of Australia.

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In Brussels tripartite negotiations of Russia, Ukraine and European Commission on gas transit began. RIA Novosti reports about it.

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In Yakutia in the village of Namtsy two five-year-old girls left kindergarten home without the permission. It is noted that on the street there was a frost below -40 °C. It is said in the statement of...

Date: 5 months ago   Category: Business

Reset time: 20 years ago in Russia there was a default — RT in Russian


On August 17, 1998 the Government of the Russian Federation has declared a technical default according to debt obligations of the country. Impetuous growth of a national debt, huge budget deficit, untwisting of a pyramid of state treasury bills, political conflicts and also global drop in oil prices and crisis in Asia — all this has pushed the state to bankruptcy. But the economy collapse has allowed to start a market mechanism in the country at the turn of the century and next millennium to reach the new level of development. Eyewitnesses of events of twenty-year prescription are experts and ex-officials — have shared with RT reminiscence about the largest economic shock in modern national history and have told the vision of the reasons and consequences of a default.

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