11:18 - 11.04.2022

---

April 11, Fineko/abc.az. The World Bank has given a pessimistic forecast on Russia and Ukraine.

ABC.AZ informs that according to the WB’s report, under the influence of Russian intervention in Ukraine, Ukraine's economy will shrink by 45% and Russia's economy by 11% in 2022.

In addition, S&P also downgraded Russia's foreign currency credit rating from CC/C to “selective default".

Against this background, Russian Finance Minister Anton Siluanov announced that his country was suspending bond trading for the rest of 2022 because of difficult credit conditions.