Russia returns Spanish bonds to approved list

Russia has taken Spain off its investment blacklist as Madrid cut its budget deficit, introduced labour market and pension reforms and announced plans to recapitalise its banks.

Russia’s government, which holds the world’s third-largest currency and gold reserves, has placed Spanish bonds back on its approved list of investments, only four months after removing the country because of worries over Madrid’s economy.

ESO: Background information: Moody’s downgrades Spain credit ratings http://www.europeansources.info/record/moodys-downgrades-spain-credit-ratings/

ESO: Background information: Spanish government reaches deal to raise retirement age http://www.europeansources.info/record/spanish-government-reaches-deal-to-raise-retirement-age/

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