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Russia counts on early repayment of its debt to the Paris Club of creditors this year
Russia counts on early repayment of its debt to the Paris Club of creditors this year, Russian Finance Minister Alexei Kudrin said after his meeting in Tokyo with his Japanese counterpart Sadakazu Tanigaki during the preparation of a Group of Eight summit due in St. Petersburg. “Russia is preparing its early debt repayment proposal to be made to the Paris Club. We count on the implementation of this proposal this year,” he told Itar-Tass on Wednesday. Russia’s debt to the Paris Club is 21.5 billion dollars, nine billions of which are not subject to early repayment, as Germany has issued secondary securities on them. This leaves Russia with 12.5 billion dollars to be cleared. “The matter of repayment of this debt was discussed today with Minister Tanigaki,” Kudrin said. The Russian Finance Ministry will present its proposal to the government for a review, after which it will be sent to Russia’s main creditors. Debt repayment is to begin after the government approves the proposal.
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