[Solved] Which country has launched a new “Foreign debt payment system”?
[A] Sri Lanka
Correct Answer: B [Russia]
Russia has launched a new “Foreign debt payment system”, an arrangement similar to that used for payments for its gas supplies to pay its dollar-denominated foreign debts. Russia will offer the holders of its Eurobond obligations to accept a payment system bypassing the Western financial infrastructure. Russia has not defaulted on its international debts since the 1917 Bolshevik Revolution when the Soviet Union was created.