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Business Matters: Russia's struggling economy

Russia's struggling economy

11/09/2015 GMT

BBC World Service - Business Matters, Russia's struggling economy

What can be done to stop Russia's economy unravelling?

After Brazil and China, another BRICS country facing economic hardships - we'll hear about the businesses in the Russian capital struggling to keep going.

On Wednesday we reported on Brazil having its credit downgraded to junk status. For several weeks we've been reporting China's market turbulence and economic slowdown. Today we turn to another member of the so-called BRICS group - Russia - struggling with it's own recession - international sanctions - a big devaluation of the rouble. On Friday the central bank in Moscow is due to announce its latest interest rate figures. 

In 12 days' time, Pope Francis, the head of the Roman Catholic Church, will begin a tour of the United States. For the faithful the countdown has already begun - literally in the case of the Catholic Herald's Twitter feed. Others online are celebrating snagging lottery tickets for papal events in New York's Central Park and in Philadelphia. Pope Francis will also address the United Nations, the US Congress and meet President Obama. Irwin Stelzer of the Hudson Institute tells Business Matters about the impact  the visit could have on the US election cycle. We also hear from Joseph Kaboski, Professor of Economics at the University of Notre Dame, on how the papal visit is stirring up the financial world too. 

All this and more discussed with our guests on both sides of the Pacific: Madhavan Narayanan, a columnist and tech writer on the Hindustan Times in Delhi, and Alison van Diggelen, host of Fresh Dialogues in Silicon Valley. 

(Photo: Russian President Vladimir Putin. Credit: Alexander Aksakov/Getty Images)

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