Lesson 31. International Banking

Lesson 31. Task 5. A. Read the article “Emerging market: The dodgiest duo in the suspect six”

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Sum-up the article using the following questions as a plan. Make use of the special vocabulary in bold type:

1. Which emerging economies are the current financial positions of Brazil and Russia compared to? Why?

2. When did the process start in Brazil? How has the situation deteriorated in Russia?

3. What is the “fragile five”? Why is this group of countries called in such a way?

4. What is common about the finances in Brazil and Russia and the “fragile” states?

5. What does the financial sector of Russia’s economy suffer from?

6. How do the financial troubles of the partners affect Brazil and Russia? Which domestic challenges do they face?

7. What are the economic and financial consequences of the sanctions?

8. Which steps have been taken by Russia and Brazil’s Central Banks to deter sliding?

9. What are the projected outcomes of the slowdown for the both states?


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