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Russia faces 'perfect storm' as reserves vanish and derivatives flash default warnings

BNP Paribas says Russia no longer has enough reserves to cover external debt and enters this crisis 'twice as levered' as it was before the Lehman crash

Debt and the developing world

Map of external debt in developing countries compared to their GDP, since 1995


Turkey's external debt rises slightly to $402 billion Private sector foreign debt stands at $277 billion, an increase of $10 billion compared to the end of last year

Let Greece profit from German history

Anybody who does the Greek debt arithmetic (and it sometimes seems that in Berlin nobody actually does) knows that it cannot repay its external debts, now around 170% of GDP, without a level of pain that is simply beyond the tolerance of democratic societies. The leftwing party Syriza is no anomaly; it is telling the financial and political truth in the runup to Sunday’s elections, however unpleasant that may be to politicians in Berlin and Brussels.

What now for Venezuela's economy

BBC analyses Hugo Chavez's economic strategy - focused on "external debt" and oil. Upon his re-election, which will see him in power for 20 years, he promised to be a "better President." He's committed to an untenable growth in public housing - which he has delayed in delivering, while selling cheap oil to his close Latin American allies. "he nation is beset by crumbling infrastructure, an overvalued currency and underperforming industry." Frightening. #sociology #latin