"Mbali Imeneyi" mlingo - ndi chiyani ichi? Kodi chidzachitika n'chiyani pambuyo Russian "chosamanga" rating

Today pa TV tsopano ndiyeno skips posts utumiki ndi ziyenera enieni Russia wotchedwa "zinyalala" mlingo. tanthauzo Ichi sizikumveka ambiri, chifukwa anthu ambiri angamvetse osauka mawu ndalama, ndipo ngati chirichonse chiri zambiri kapena sichidziwika bwino-oveteredwa, ndiye wa jargon monga "zinyalala", muyenera kunena mwatsatanetsatane. Pa izi ndi zina kukanikiza nkhani za chuma kenako m'nkhani ino.

Kodi ichi

Kuti kubvesa bwino "zinyalala" kuvota, choyamba tiyenera kumvetsa tanthauzo la "ngongole mphambu." Aliyense payekha, gulu kapena ngakhale dziko akhoza kukhala solvency awo mlingo. Mwachitsanzo, magombe nthawi zambiri amapanga mavoti awo borrowers, ndi pamene izo zifika mumayesto kugwirizana kwa mabungwe akuluakulu kapena limati, zikugwira apadera palokha mabungwe mlingo. Ena mwa iwo ndi FitchRatings, Moody ndi Standard ndi wosauka (S & P), amene ntchito kuwonjezera ku dziko lonse, ndipo maganizo awo anamvera ndalama zambiri.

Pankhani States, manambalawo zochokera Khadili mmene chuma chikuyendera, kusinthitsa ndalama ya ndalama dziko ndi zina.

Sitingathe kunena kuti pali dongosolo wamba mlingo aliyense bungwe njira ndi zizindikiro zawo. Onse sukulu akhoza kugawidwa mu udindo wapamwamba, mkulu, sing'anga khalidwe. Adamtsata yowopsa ndiponso zongoganizira ukutitsimikizira, komanso Zoneneratu wa kusakhulupirika pafupi. "Mbali Imeneyi" mlingo - kudzipereka kwa choyimira chabe amenewa.

Zimayambitsa mavuto mu Russia

Ngakhale Russia ndi ngongole mlingo sipanatenge zaposachedwapa pa mlingo mkulu, koma izo sizinali "zinyalala" ndi solvency wa dziko makamaka sangathe adakayika. mavuto inayamba mu 2014, pambuyo analanda dziko la Crimea ndi ziletso wotsatira ndi US ndi EU. Onse kulimbikitsa ndi kugwa mitengo mafuta, kudzipheralo ndi depreciation chapadera cha ruble lapansi. Izi ndi zina ndawapatsa kuwuka kulankhula za vutoli, ndipo ngakhale kuthekera ofikira ku Russia.

Childs, m'mayiko "chosamanga" kuvota, ndi chuma ofooka, ndi mavuto ambiri. Tsopano, anthu padziko lonse anayamba kulankhula kwambiri za Russia kulowa mu mndandanda wa osatchuka. Zodabwitsa ndizakuti, nthawi yotsiriza ngongole ya dziko mlingo anali pa mlingo wa "chosamanga" mu 2005.

Zoneneratu sizikuyenda bwino

Kumapeto kwa 2014 Minister wakale Finance Alexei Kudrin ananena kuti zonse kunachitika mavuto azachuma kumayambira dziko. Malinga ndi iye, Russia mu 2015 akhoza anatuma "chosamanga" kuvota, izo zimayamba osati zotchipa mafuta - ziletso komanso imfayo ndi kuchepa kwa chuma. Malinga ndi Mapa wa mkulu wakale wa Utumiki wa GDP dziko adzakhala kuchepa ndi osachepera 2%, poganiza kuti mafuta ndalama $ 80 pa zotchipa pafupi $ 60 akuponya chuma akafuna 4%.

Kudrin ananenanso kuti boma ndi ndondomeko kuchepa, choncho otsika kapena ziro kukula zimayamba popanda mavuto kunja zokhudzana ndi mitengo mafuta ndi ziletso.

limaluluza

Kumayambiriro a 2015, fitch adatchithisira ziyenera wa solvency la Russia kuti mlingo wa BBB-, ndilo sitepe otsiriza m'dera ndalama, ndiye pakubwera "zinyalala" mlingo. Russia zapatsidwa zinthu zoipa posachedwapa.

Posakhalitsa, mabungwe mlingo S & P ndi Moody adatchithisira Russia ndi ngongole mlingo kuti nkhambakamwa chabe, kapena otchedwa "chosamanga". Malinga ndi malipoti, mmodzi mwa zifukwa zimene ziyenera ndi nkhondo yosatha ku Ukraine, amene mwanjira ina, akhoza kusokoneza mmene chuma chikuyendera mu Russia yokha. Kuwonjezera pa mlingo kungasokoneze zotchipa mafuta ndi wosakhazikika kusinthitsa ndalama ya ndalama dziko.

Moody ali, mwa zina, amanena kuti pali Mwina kupanga Russian boma zosankha, amene kumlingo zingakhudze utumiki dziko ngongole kunja pa nthawi.

Dziwani kuti ngati wounikira mabungwe osiyana amasiyana choyamba kuganizira madokotala ananena zawo koipa.

The Kudziwa za mawunikidwe

"Big atatu" ngongole mlingo mabungwe mabungwe oziyimila paokha kuwunika awo amaona kuti kukhala opanda tsankho ndi cholinga. Komabe, popeza kuti bungwe ulipo mmodzi "chosamanga" mlingo wa Russia, ndi Russian Utumiki okhonda monga kusankha ndale, amauma ku mfundo chuma view ndi umalimbana zofooketsa dziko. Utumiki Dziwani kuti Ziwerengero awa ali mbali ya malamulo Western a kuthamanga pa Russia kudzera ziletso.

N'zochititsa chidwi kuti chigamulo cha bungwe Moody Ndinapereka ndi Russian ziyenera a Ba1, amene ali chimodzimodzi basi zikusonyeza "chosamanga" kuvota, Kudrin ankaona maloobyasnimym, ngakhale kuti anali kale ankati zokhuza kuthekera kuchepetsa Russia za mphamvu mlingo kuti zongopeka. Yankholi n'chakuti kwa mlingo uwu anaikonzanso chabe month ago - si bwino chifukwa chake anafunika tsopano.

Kuposa linaopseza dziko

Ndi lokha "zinyalala" mlingo si zoopsa kwambiri, makamaka ngati chuma kunadetsa kufooketsedwa ndi zinthu fungulo mtengo kwa mafuta ruble, komanso makampani zakreditovannost ndi mabanja. Tikhoza kunena kuti otsika kusanja amasonyeza mavuto panopa.

Mayiko "chosamanga" mlingo akhoza kukumana ndi vuto kupeza ngongole kunja, monga mu nkhani ya Russia, kupatsidwa ziletso oletsa izo, otsika mlingo mabungwe nkomwe kusintha - otaya ndalama mu dziko wakhala utachepa kwambiri mu 2014. Komabe, ambiri ndalama ndalama zoika kuletsa ndalama mu chuma ndi "chosamanga" kuvota, kotero kuchuluka kwa ndalama zakunja Mwina yafupika, koma silingakhale yovuta kwa chuma.

Kukamba za kusakhulupirika

Koma mphekesera zokhuza kuthekera kusakhulupirika, ali ndithu kusinjirira, ndi jekeseni wa mantha. Ngati ife kulankhula za mlingo wochepa, mpaka Category D, kutanthauza kuthekera mkulu wa kusakhulupirika, Russia akadali kutali.

"Mbali Imeneyi" mlingo - uwu si chilango, kupatula ngongole lachilendo la Chitaganya cha Russia si choncho kwambiri ndi pang'ono kuposa 10% ya GDP, pamene m'mayiko ena ndi kusanja apamwamba, ngongole anthu mwina upambana GDP awo. Ngati ndi kotheka, Russia tingakhalebe udindo wake likuvutika nkhokwe kuwombola yachilendo.

Mukutanthauza chiyani "chosamanga" mlingo kwa Russia

Choyamba, tiyenera ananena kuti "zinyalala" mlingo sikutanthauza Wopanda chomaliza cha dziko m'dzenje la mavutowo. Motsutsa likhale solvency zoipa Russia anayerekezera, komanso ofufuza otsika mafuta ananeneratu mtengo zina depreciation wa ruble ndi mavuto ena chuma. Komabe, m'chaka cha ruble ndi anazindikira mwamphamvu dollar ndi mitengo mafuta okhazikika. Boma kutenga miyeso zofunika kuthetsa vutoli.

Mwachitsanzo, "chosamanga" mlingo wa Ukraine Ndipotu amasonyeza mkhalidwe womvetsa chisoni mu dziko, amene chuma zimadalira Kuyamikira Western. Pankhaniyi Russia, zinthu zitha kusintha. Posakhalitsa kapena kenako zinthu adzapeza zabwino, ndiye mabungwe mlingo kubwereza anene kwa bwino.