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On August 21 Russia will repay all the debts of the USSR

July 15 2006

Russia already by 21 August to pay off debt to the Paris Club said the deputy head of the Ministry of Finance Minister Sergei Storchak.

After 21 August, according to preparing bilateral protocols with creditor countries should occur every dollar payments for settlement of Russian debt. Payments in other currencies will be held even earlier to August 18.

Remember that the total savings from long-term debt to the Paris Club is $ 7.7 billion. Storchak assured that all savings payments will be sent to investors.

Russia plans already in the beginning of September to make the exchange of commercial credit debt of the former USSR.

Sergei Storchak, believes that the leaders of the G8 summit in St. Petersburg will confirm the total unacceptability of increasing lending to the poorest countries in the world.

Ministerial Decisions "focuses on coordination of donor countries, in particular, so as not to increase lending to the poorest countries."

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