The economy is basically dependent on resources. In this case, the ability to resist risks is very low. As long as the United States moves the price of oil, it will be finished soon.
With the liberalization of capital market, the ruble has fallen this time. To a large extent, international speculators use the futures market to short the ruble and then cash out immediately. If the capital market is completely open, no one can compete with the United States.
3. People's confidence is insufficient. Why the Russian people sold the ruble is because the disintegration of the Soviet Union and the great devaluation around 2000 hit the people too hard, and the people generally have no confidence in the ruble.
4. casually raise interest rates. This time, the central bank of Mauritius raised interest rates by 500 basis points, that is, 5% in one breath. Now the interest rate has become 17%. Suppose the interest rate is 17%, what is the loan interest rate, at least 20%?
This will increase the financing cost of enterprises, and enterprises can only close down or narrow their business scope, which will further worsen employment and the economic situation will continue to deteriorate.