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Russia-Ukraine tensions pose credit default risks: IMF

Smoke rises over Donetsk, Ukraine on July 27, 2014The International Monetary Fund warned Tuesday that an escalation of tensions between Russia and Ukraine would raise the risks for banks exposed to those countries. Hit by US and European Union economic sanctions against Moscow, Russian businesses in particular could see financing and revenue dry up, pushing them to fall behind in servicing debts. While the conflict between Kiev and pro-Russian separatists has remained confined to eastern Ukraine, escalation could have global repercussions, the report warned. “An escalation of tensions through intensification of sanctions and retaliations may lead to larger spillovers across Europe, central Asia, and beyond.”

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