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Commodities Briefing - Categorized | Commodity Crisis, Market Moves more

Russia goes from splash to crash as commodities tumble

Posted on 23 February 2009

From Cattlenetwork.com: The reversal of Russia’s fortunes is nothing short of a Chekhov drama. A seven-year economic boom fueled by cheap credit and soaring commodity prices has come to an abrupt end, plunging the country into the worst financial crisis since its 1998 debt default.

Russia’s economy is expected to contract by at least 2% in 2009 after growing at an average rate of 7% in recent years….. Full Article: Source


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