Russia » Economics

Russia will pay off the USSR debts

The Russian Finance Ministry is planning to restructure the foreign debt and raise its market part.


In the next year Russia plans to end the negotiations of the former USSR debts. Aleksey Uliukaev, the Finance vice-Minister, says: “By the middle of this year, the former USSR debt consisted 5% in the overall foreign debt structure of Russia”, and “we are heading to negotiate the problem of the USSR debt altogether… there are all the conditions to solve the problem in 2004”.

He also reminded that in the last few months, the negotiations on this debt regulation were conducted with three countries: South Korea, Thailand and Oman. Currently, active negotiations are in place with the remaining four countries who credited the former USSR: Kuwait, Turkey, Yugoslavia and Malta.

According to Uliukaev’s figures, 42% of the Russian foreign debt now is a debt to creditors, 10% is a debt to the international organizations, and only 38% of the debt are in various market instruments: euro-obligations and shares. He informed that the Finance Ministry is planning to restructure the foreign debt and raise its market part.
Russia will pay off the USSR debts

In the next year Russia plans to end the negotiations of the former USSR debts. Aleksey Uliukaev, the Finance vice-Minister, says: “By the middle of this year, the former USSR debt consisted 5% in the overall foreign debt structure of Russia”, and “we are heading to negotiate the problem of the USSR debt altogether… there are all the conditions to solve the problem in 2004”.

He also reminded that in the last few months, the negotiations on this debt regulation were conducted with three countries: South Korea, Thailand and Oman. Currently, active negotiations are in place with the remaining four countries who credited the former USSR: Kuwait, Turkey, Yugoslavia and Malta.

According to Uliukaev’s figures, 42% of the Russian foreign debt now is a debt to creditors, 10% is a debt to the international organizations, and only 38% of the debt are in various market instruments: euro-obligations and shares. He informed that the Finance Ministry is planning to restructure the foreign debt and raise its market part.