MOSCOW: When Olga Savelyeva took out a $226,000 mortgage to buy a small apartment on the outskirts of Moscow in 2008, she could never have imagined that the ruble would lose more than half its value in a few short years.
The 30-year-old mother of a young daughter and her husband have tried to honour their repayment commitments but despite their best efforts, December’s instalment was $400 short. “We’re left with 3,000 rubles ($56) this month,” Savelyeva told AFP.
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