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Blockage of Russian Bond Payments to Erode Dollar Dominance, French Economist Says_我的网站

A |     　　中新社北京8月24日电 (陶思阅)中国央行24日发布公告称，为保持银行体系流动性充裕，将于8月25日开展5000亿元(人民币，下同)MLF(中期借贷便利)操作，期限为1年期。　　过往数据显示，8月有6000亿元MLF到期，这意味着本月MLF净回笼1000亿元，为近四个月来首次缩量。    "Such a blockage is not a default and the financial world knows it very well. Russia is, of course, willing to pay. It is fundamentally illegal and the bond holders around the world that are hit by this 'sanction' imposed by the US and the Europeans could and should file a complaint in international courts," he said.,The Paris-based financial expert suggested they would have a strong case for winning but the legal battle would probably take 5 to 10 years.,Gave said he was confident that Russia had ample cash to pay. Until now, the Russian central bank has always found a way to bypass Western financial curbs to pay to foreign bond holders but in this instance, he said, it seems Russia tried to pay in rubles but the bonds in question do not allow payments in other currencies than the dollar.,Russian Finance Ministry Dismisses Media Reports on 'Default', Says Payments Made in Full10:43 GMT,"The Russian currency is at its strongest level against the dollar since May 2015... So the value of the ruble is not in question. What is in question is the Western financial sanctions that will have heavy repercussions for the West too," the economist predicted.,Blockage of Russian Bond Payments to Erode Dollar Dominance,The freeze of Russian payments on Eurobonds by Washington and European capitals may lead to the dollar losing its dominance in international transactions, Gave added.,"The main result will be a reluctance around the world to use the dollar as the currency for international exchanges. It will be the same for the euro.",The financial expert said that the blockage was intended to warn off the financial world from doing business with Russia but it merely showed that domestic currencies were a safer means of transactions.,“If major deals will be struck tomorrow between Taiwan and Korea, it will not be in dollars anymore, but in one of their national currencies. The result will be the end of the dominance of the US dollar," Gave said.,"As for Russia, it will redirect its international bond issuance via Chinese banks in Shanghai, Beijing or other places around the world. This will, above all, be detrimental for the US and European financial markets," he suggested.,Sanctions imposed on Russia since February have had a very limited effect on its economy and have boomeranged home to hit Europe. Gave suggested that the continent was heading for a huge economic crisis this fall, with a possible return to the stagflation of the 1970s.,“The Western sanctions are already being the boomerang that could be feared: if Russia stops altogether to deliver gas to Europe, the economic crisis in Europe this fall will be huge. We paid our energy in euros to Russia? We’ll now pay it in dollars to Qatar or the US," he said.,US news agencies have labeled it Russia's first default on external debt since 1918. Russia has argued that it not a genuine default since it can and is willing to pay and accused international financial institutions of blocking payment transactions. The Finance Ministry has also stressed that payments have been made in full and in accordance with the terms under which the eurobonds were issued.。

B | 　　“MLF续作缩量，或主要与金融机构资金需求的期限结构有关，不代表流动性收紧。”东方金诚首席宏观分析师王青说，近期市场流动性充裕，市场隔夜利率基本围绕政策利率平稳运行。　　综合来看，8月央行通过3个月期买断式逆回购操作净投放2000亿元，同时，还开展了10000亿元6个月期限买断式逆回购，规模上等量对冲。所以8月央行通过买断式逆回购和MLF操作合计净投放1000亿元。王青表示，8月中期流动性净投放有助于保持资金面充裕，稳定市场预期。

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Published on:13:11:54