Vice-premier and Finance Minister of Russia Alexei Kudrin and Vice-President of the World Bank Johannes Linn discussed a three-year strategy of Russia's borrowings from the Bank. The Russian vice-premier made such a statement to journalists. He took part in the meeting of G-8 finance ministers and chief bankers held in Washington. According to Kudrin, the strategy should be developed by the beginning of 2002. The Russian vice-premier said that given a new economic situation in Russia the borrowing prospects will be re-evaluated. Russia will continue borrowing from the Wold Bank but "more cautiously with more precise analysis of projects' efficiency," Alexei Kudrin emphasised. In the course of the meeting the sides discussed possible priorities of such borrowings. According to him, these include an infrastructure sector related to utility services and, first of all, heat- and water-supply to the regions, energy sector reform, combating diseases, ecological projects, education reform and computerisation of the whole sector of education - from higher educational establishments to schools, including rural ones. "A special attention was paid to the project and I think that it will be thoroughly developed in the nearest future since it corresponds to the principles and objectives of both the World Bank and the Russian government," Kudrin stressed. He indicated that "an access to data and training people to work with information systems and data bases will considerably expand possibilities in all economic sectors."
Russia has left the list of 33 largest holders of US government bonds, after the country disposed of at least a third of remaining bonds