Belarus’s Economic Downturn

In mid-July 2022, Moody’s and Fitch—two of the three international credit rating agencies—declared that Belarus is in technical default on its debt. Government economists consider this qualification politically prejudiced (Sputnik, July 13). However, a technical default is only a deficiency in a loan agreement that arises from a failure to uphold a certain aspect of the loan terms. In this … Read Full Article »