Source Pravda.Ru

Authorities to decide on ex-USSR debt exchange for Eurobonds this week

A decree for the exchange of the former USSR's commercial debt for Russian Eurobonds will be signed over the next two days, Russian Prime Minister Mikhail Kasyanov announced at a meeting with journalists today. He commented on the statement of Deputy Finance Minister Sergey Kolotukhin who had announced that the exchange would not be completed before the end of this year unless the decree was signed before November 18. According to the Prime Minister, there are no strict time limitations. Kasyanov also spoke about the impact of the settlement of the former USSR's debt on Russia's credit ratings and admitted the importance of the latter but stressed that the actual estimations of Russia's situation by the business community was more optimistic than those ratings.