A financial crisis may hit Russia soon, according to a forecast by the Analytical Credit Rating Agency (ACRA).
According to analysts, the disrupted OPEC+ deal was not the only reason that sent the ruble tumbling; the coronavirus outbreak also played a role, Ekho Moskvy writes.
ACRA estimated the financial stress index in Russia at more than 3 points. Theoretically, when it exceeds 2.5, the financial system slides into a crisis, which means Russia faces an increased likelihood of a financial crisis. On the other hand, the index alone does not mean that the country has already entered that phase.