The size of the Stabilization Fund has exceeded 858 billion rubles

Friday, January 22, 2021

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The size of the Stabilization Fund has exceeded 858 billion rubles (1 dollar equals 27.87 rubles), Russian Finance Minister Alexei Kudrin said. Within the next three months it is expected to grow much bigger, he said. "It will be big enough to pay 15 billion dollars of debt before August 20," Kudrin said. He explained that the budget law permits using the fund's resources for advanced repayment of Russia's debt to the Paris Club. "We've paved the ground for such repayment and accumulated much of the sum," the finance minister said. "The Stabilization Fund's funds are in rubles but we keep the same amount in dollars on the Finance Ministry's accounts in the Central Bank."

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