Russia has paid off more than $938 million of its foreign debt

Thursday, May 26, 2022

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Russia has paid off more than $938 million of its foreign debt, Vnesheconombank said Thursday. Vnesheconombank, the state-controlled bank that handles Russia's foreign debt, said it had issued Eurobonds and transferred a total of $938,256,000 to JP Morgan Chase Bank to clear part of the country's foreign debt. The sum includes $430,497,231.49 in repayment of the debt sum and Eurobond coupons to be repaid in 2010, and $507,759,696.75 with Eurobond coupon repayment due in 2030. Coupons are paid twice a year in the same currency. According to the Ministry of Economic Development and Trade, Russia's foreign debt shrank by 32.6 billion in 2005 to total $81.5 billion early this year, or 10.6% of GDP. In comparison, the debt was $114.1 billion as of early 2005, or 19.3% of GDP

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