Source Pravda.Ru

World Bank Approves Russia's Decision To Pay Debts Earlier

The World Bank has approved Russia's decision to repay a part of its foreign debt earlier than scheduled, the chief economist of the World Bank's office in Moscow reported at a news conference today. He noted they support this decision as well as IMF managing director Horst Koehler. Most of loans to Russia were long-term - for up to 17 years. The volume of annual payments to service these debts reached $600 to $700 million.