May 16, 2022 · In 1998, Russia experienced a major currency crisis when the rouble lost over two-thirds of its value in three weeks, as well as a default on ...

The underlying origins of the Russian crisis of 1998 are to be found in the country's economic structure, institutional environment and political processes.

The crisis came to a head on August 17, 1998, when the government of then- Premier Sergei Kiriyenko abandoned its defense of a strong ruble exchange rate ...

However, it finally succumbed to collapsing confidence and declared a default on its debts in August 1998. The circumstances of Russia's financial crisis— ...