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Russia buys Libya's debt!

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  • Russia buys Libya's debt!

    More national debt changes hands, this time with business contracts to ice the cake! What does this mean to us?

    Article (one of MANY!):
    http://www.cnbc.com/id/24190473/for/cnbc

  • #2
    Re: Russia buys Libya's debt!

    Libya won't sell oil/gas anymore (no need for $ holdings) but will swap only with goods/services in future ? Gadaffi wary of foreign currencies ?

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    • #3
      Re: Russia buys Libya's debt!

      No, you're looking at this the wrong way.

      Russia swapped out some (in oil terms) small number of outstanding loans in return for preferences in Libya - presumably energy.

      That's not such a bad deal, especially since the amount of loans in question was in dispute.

      Unless oil goes back down to $20/barrel...

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