Five years on, scars of Russian financial crash still run deep

  • 2003-08-21
  • Yana Dlugy
AFP MOSCOW - When Russia announced exactly five years ago that it was unable to pay back some of its debt and was letting the ruble float, Leonid Fedosov did not immediately worry for his family's savings.As dazed investment bankers in London counted up losses and panicked investors shed Russian equity, 52-year-old Fedosov calmly finished his day as a manager of an electricity repair company and came home to the two-room apartment that he and his wife shared with their two sons.It was not until that evening that Fedosov, who earned about $2,400 a year, realized the gravity of the situation ...
 
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