Rus News Journal

The world bank: Russia can pay debts in 2003

the World bank considers that Russia will not have difficulties with payment of external debts in 2003. It at a meeting with journalists was declared today by the senior economist of the Moscow representation of World bank Kristof Rjul. We agree with opinion of IMF that at Russia of problems with payment will not be long and in 2003., and later - he has told.
representative VB has noticed that the macroeconomic situation in Russia remains stable. Level of gold and exchange currency reserves, positive balance of the balance of payments, as he said, testifies to it, and also provided in the budget on 2002. Proficiency. In case of occurrence of a problem with payment of an external debt these factors will play a role of shock-absorbers. At the same time, has specified Rjul, the economy of the Russian Federation on - former strongly depends on the prices for energy carriers, and it continues to do economy of Russia vulnerable.
it is necessary to notice that in the Russian governmental and business circles to a question on payments of debts in 2003 approach more carefully. So, the chairman of the Central Bank of Russia Victor Gerashchenko notices that the peak of payments of Russia to the Parisian club will come in 2003 when it will be necessary to pay the Russian Federation 18 mlrd dollars. The head of Bank of Russia considers that this sum will be very heavy and it is necessary to carry on negotiations for a problem of re-structuring of payments of 2003 with creditors, including with representatives of the Parisian club.
nevertheless, in case of the decision Russia problems 2003. Its credit rating can be raised to In or In +. Such statement the operating director of rating agency Standard &Poors has made Konrad Reuss. According to Reussa, Russia has reached good indicators on stocks of gold and exchange currency reserves, on taxation, under the budget executed with proficiency. However it, according to foreign investors, it is not enough. It is necessary to force carrying out of many reforms among which judicial and ground since investors want more effective and lawful protection of the investments, and judicial reform will be urged to be the guarantor of investments, the mechanism of return to the country of the taken out capitals. the key problem of Russia is a problem of 2003 - has declared g - n Reuss. In case of its decision, as he said, the rating of Russia can be raised to In/ stable or even to In +/ stable .