Source Pravda.Ru

In 2005 Russia plans to borrow by issuing Eurobonds - Kudrin

Russia's Finance Minister Alexei Kudrin has confirmed that the Russian government in 2005 intends to borrow by placing Eurobonds.

"Borrowing plans remain," Kudrin said on Tuesday in an interview with reporters.

The expected volume of borrowing is $4 billion. According to the minister, these figures have not yet been modified.

Kudrin pointed out that the 2005 budget would structurally provide for a refinancing of the bulk of the sovereign debt through borrowings, privatisations and state resource sales.

A decision to issue Eurobonds this year is most likely to be adopted in the first half-year, the minister said. He stressed that this decision "need not be rushed: it is first necessary to look at the pattern of the first quarter".

"We are weighing up the situation, and there is still time," Kudrin added.