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Replacing ships like the Moskva will be pricey. The flagship of Russia’s Black Sea Fleet recently sank after suffering damage. Russian Defense Ministry Press Service via AP

Russia faces first foreign default since 1918 – here’s how it could complicate Putin’s ability to wage war in Ukraine

Russia is on the verge of defaulting on its foreign debt, which not only could have severe economic consequences but could also complicate Putin’s ability to wage a prolonged war in Ukraine.
No need for doom and gloom. Mauricio Macri

For Argentina, debt default is a solution not a problem

Unless you just returned from holiday in some ultra-remote region lacking newspapers, television or internet access (is there such a place?), you will be aware the government of Argentina has defaulted…
The US Supreme Court’s decision has received worldwide condemnation. David Fernández/AAP

Argentina’s debt trail favours speculators and the super rich

Argentina is facing the potential of a new financial crisis after it defied legal attempts to force it to repay US$1.33 billion in debt owed to the so-called “vulture” funds that have pursued the country…

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