Russia to Pay off All Debts and Become a Creditor / News / News agency Inforos
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Russia to Pay off All Debts and Become a Creditor

Monday the Russian government is expected to pay off the Soviet Union's debts. By the end of the day the Russian Finance Ministry will transfer $22 billion into the accounts of the Paris Creditors' Club. Thus the Russian side will fully and ahead of schedule pay off the debts of the non-existent country.

Earlier, Finance Minister Alexei Kudrin said that the amount saved due to the anticipatory redemption of the debt would come up to more than $7.5 billion. The amount would replenish Russia's Investment Fund.

According to Deputy Finance Minister Sergei Storchak, after Russia has paid off its debt to the Paris Creditors' Club, it intends to become active, within the framework of that organization, as a creditor country. "We are willing to give loans to other countries", he said.
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