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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

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The main events by the morning: April 12


April, 12 2024
watermark Economic news

  • Russia's external debt per capita has reached a minimum over the past 18 years. As of April 1, the figure was $2,079. This is the lowest level since 2005. The debt-to-GDP ratio also fell, to 15.05%, which is the lowest since 1993. In 1999, the maximum external debt of the Russian Federation was 91% of GDP, and in 2013 the debt per person reached $5,072.


  • Israel is preparing for a possible attack from Iran in the next 24-48 hours. According to the WSJ, the country expects an attack on the south or north of its territory. In addition, Axios reports on the conversation between the German Foreign Minister and his Iranian counterpart. Germany is concerned about the possible escalation of the conflict in the region in the event of an Iranian attack on Israel. In response, the Iranian Foreign Ministry declared its full readiness to respond to Israel's actions.


  • Russian coal companies are preparing to reduce coal production due to lower prices this spring. The cost of coal currently corresponds to the level of April-May 2021. Production is becoming inefficient due to high logistics costs, import duties from China and exchange duties in the Russian Federation. However, companies are still hoping for a strengthening of global coal prices in the summer due to increased demand for electricity.


  • The Ministry of Finance of Russia expects the adoption of legislation on the regulation of cryptocurrencies in 2024. The norms can be approved as early as August, said Alexey Yakovlev, head of the Finance Ministry's financial policy department. The main thing is that mining will be consolidated as a full-fledged industry.


  • The mission of the first launch of Russian rocket Angara-A5 has been fully completed. The launch vehicle delivered a test payload into orbit. Next, the Orion upper stage will take it into a storage orbit so as not to interfere with the activities and launch of other vehicles, Roscosmos said.

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