Russia repaid the bulk of its outstanding debt to the Paris Club of Creditor Nations on August 18-21. This debt totaled $1.9 bln as of October 1, compared to $23.7 bln on July 1.
Alexander Zhukov, a deputy prime minister, said on October 24: "During the next three years, foreign debt will gradually be reduced to $40 billion, which is a very good indicator, compared with other countries."
Russia's debt to international financial organizations was reduced from $5.5 bln to $5.4 bln in July-September, and its Eurobond debt declined $0.3 bln to $30.9 bln.
Debt to former Eastern-bloc countries ($2 bln), trade debt ($1.1 bln), and sovereign bond debt ($5.7 bln) remained unchanged in the period.
Russia is paying off its foreign debt mainly from the Stabilization Fund, which was set up to accrue windfall profits from high world oil prices.
Add to blog
You may place this material on your blog by copying the link.
Islamic terrorism is gaining momentum, and is all about ideological opposition to European Christian values. This is an aggressive young radical ideology that attracts followers across the world. And it will only grow stronger on the world political stage.