Russia’s battered currency fell sharply again this week after a government report showed the economy had shrunk in November, the first such decline in five years. The Russian government recently announced steps to stabilize its banks and bolster the value of the beleaguered ruble. But experts say the country still faces a recession next year.
Despite the holiday lights – the economic prospects for Russia have dimmed. Its currency has lost more than half its value this year and banks are running low on cash. It’s a situation that’s bound to get worse before it gets better …read more
Source: Voice of America
