Tuesday, July 23, 2019
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Russia has completed the signing of bilateral agreements as part of its early repayment of debt to the Paris Club of creditor nations
Russia has completed the signing of bilateral agreements as part of its early repayment of debt to the Paris Club of creditor nations, the Finance Ministry said Friday. "All bilateral agreements have been finalized," a ministry spokesman said. "Most of the settlements will be made Monday, August, 21," he said. Russia will save $7.7 billion by paying off its debt early. Under a 1994 "zero option" agreement with ex-Soviet republics, Russia inherited all of the assets and liabilities of the former Soviet Union. Russia is to repay its remaining $21.3-bln debt to the Paris Club by August 21 through its state-owned bank, Vnesheconombank, that will act as the Russian government's payment agent.
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