Russia makes debt plea
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.MOSCOW (Reuter) - Russia will discuss deferment of foreign debt repayments at a meeting this week with representatives of the Group of Seven leading industrial nations, Alexander Shokhin, deputy prime minister said.
Mr Shokhin said that even after previous deferment agreements, Russian export earnings would not cover debt obligations.
Russia, which has assumed the bulk of the Soviet foreign debt burden of about dollars 70bn, has already secured a series of 90-day rollovers on the principal payments of debt owed to Western governments and commercial banks. However, it has had trouble meeting interest payments, largely because of a sharp decline in oil export revenues.
'Even after agreements reached by Russia this summer on deferment of payments on foreign debt and debt reduction, the volume of payments for 1992 is two to three times greater than hard currency export revenues,' Mr Shokhin said.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments