9. The Two Ruble Debt: A Furry's Honest Account — Key Highlights

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Comprehensive Findings & Archive

In august 1998, russia experienced a classical financial crisis, combining a currency crisis, a banking crisis, and a debt crisis.

As the ruble collapsed from about 6 russian rubles for 1 u. s.

At the same time, russia imports 4 billion rubles of services, and russia makes a 2 billion ruble net unilateral transfer to albania.

Russia's current account equals (negative 4 billion rubles)

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