Rus News Journal

Russia will liquidate a debt to the Parisian club till August

the Debt of Russia to the Parisian club will be completely extinguished till August 2006. The Minister of Finance of the Russian Federation Alexey Kudrin has informed On it at meeting in the Federation Council.
as he said, the total amount of payments will make 22,3 mlrd dollars Of them 21,3 mlrd dollars - preschedule repayment of the basic debt, 700 million dollars - planned payment in the middle of August and 1 mlrd dollars - the award to the countries - to participants of the Parisian club. The minister has underlined that 700 million dollars of the award Germany, before which at Russia will receive the biggest debt. Besides, the award will be received by France, Great Britain and the Netherlands.
as he said, repayment will be spent till August, 21st 2006. Technical registration of the transaction In the near future will begin. Debt payment will be is spent by a uniform tranche.
thus A.Kudrin has noticed that economy of means of the federal budget on percentage payments only in 2007. Will make 1,2 mlrd dollars Thus, for 1 year we will pay back that 1 mlrd dollars which we will pay as the award - he has told.
according to the minister, economic benefit of the given transaction has been recognised by all experts at today`s session of the government. The government has approved transaction parametres, and the agreement on preschedule repayment will be signed in the near future.
we will notice that with all countries of the Parisian club the arrangement on debt repayment under the following scheme is reached: to the countries before which Russia has a debt with the floating interest rate, the debt will be repaid face value, with the fixed rate of 15 % will be extinguished face value, 85 % - are paid at the market price.
A.Kudrin also has informed that means from economy on percentage payments will go to Investment fund of the Russian Federation from next year, that is it will annually grow for the sum of the saved percent the minister has told. It has reminded that in 2008. The economy on percentage payments will make 1,1 mlrd dollars, in 2009. - 1 mlrd dollars As a whole the economy on payments of the future periods will make 7,7 mlrd dollars
A.Kudrin also has informed that at Russia remains only 3 - 4 mlrd dollars of a debt of the former USSR before the countries which are not participating in the Parisian club. As he said, the given debt is re-structured and repaid according to plan by technics deliveries.
we will remind that planned repayment of a debt of the Russian Federation before the Parisian club has been appointed on 2012 - 2015. However in 2004 Russia has initiated to extinguish a debt part ahead of schedule. Negotiations passed uneasy: members of the Parisian club insisted on repayment of a debt with the award (as they lose percent which Russia should pay at observance of the original schedule of payments) whereas Russia achieved repayment with discount.
we will notice that all public debt of the Russian Federation on the beginning 2006. Made 3 trln 104,11 mlrd rbl. (Including external - 2 trln 228,68 mlrd rbl., internal - 875,43 mlrd rbl.).
last year the external state debt of Russia on methodology of the Ministry of Finance was reduced with 114,1 mlrd dollars (19,3 % of gross national product) to 81,5 mlrd dollars (10,6 % of gross national product). Including payments on a preschedule external state debt - to the rest of a debt to IMF at a rate of 3,3 mlrd dollars and 15 mlrd dollars to the Parisian club have been made. Thus past year proficiency of the federal budget of Russia has made 1 trln 536,8 mlrd rbl.
Also inspires certain optimism forecast MERT on the further gain of currency resources in the country. So, in 2006. The gain will make 53 - 55 mlrd dollars, in 2007. - 22 - 26 mlrd dollars, in 2008. - 17 - 21 mlrd dollars Thus to 2008. Currency reserves of Russia can make 277 - 280 mlrd dollars