IMF Chief: Russian Default on Sovereign Debts No Longer ‘Improbable Event’

International Monetary Fund (IMF) Managing Director Kristalina Georgieva makes remarks during a closing news conference for the International Monetary Finance Committee, during the IMF and World Bank's 2019 Annual Meetings of finance ministers and bank governors, in Washington, on Oct. 19, 2019. Mike Theiler/Reuters

A Russian default on its sovereign debts is no longer an “improbable event” after Western sanctions, the head of the International Monetary Fund (IMF) Kristalina Georgieva said March 13.

“In terms of servicing debt obligations, I can say that no longer we think of Russian default as improbable event,” Georgieva said on CBS’s “Face the Nation.”