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Russia: Hundreds rally against mortgage repayment conditions01:27

Russia: Hundreds rally against mortgage repayment conditions

Russian Federation, Moscow
March 5, 2016 at 09:56 GMT +00:00 · Published

Hundreds of mortgage borrowers gathered at 1905 Goda Street, in Moscow, Saturday morning to protest against the conditions of their loans.

The protesters, most of whom took the loans out a few years ago, when the rouble was more stable, now have to suffer from the growth of the exchange rate of the foreign currency and pay back the loans to the banks. Protesters are arguing that they cannot afford to meet repayments due to interest rates and the fact that companies now require payments to be made in relation to currencies other than the rouble.

The rally is organised by Russian movement of currency borrowers and it started at 08:00 GMT. The protesters came with banners and placards, trying to draw attention of the government and banks to their problem. They invited Russian Prime Minister Dmitri Medvedev and Deputy Prime Minister Igor Shuvalov to the rally, according to reports.

Russia: Hundreds rally against mortgage repayment conditions01:27
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Description

Hundreds of mortgage borrowers gathered at 1905 Goda Street, in Moscow, Saturday morning to protest against the conditions of their loans.

The protesters, most of whom took the loans out a few years ago, when the rouble was more stable, now have to suffer from the growth of the exchange rate of the foreign currency and pay back the loans to the banks. Protesters are arguing that they cannot afford to meet repayments due to interest rates and the fact that companies now require payments to be made in relation to currencies other than the rouble.

The rally is organised by Russian movement of currency borrowers and it started at 08:00 GMT. The protesters came with banners and placards, trying to draw attention of the government and banks to their problem. They invited Russian Prime Minister Dmitri Medvedev and Deputy Prime Minister Igor Shuvalov to the rally, according to reports.

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