19 April 2004 08:45
MOSCOW BOND DEBT INCREASED 150% IN 2003
MOSCOW. April 19 (Interfax) - Moscow debt on bonds in 2003 increased by 22.402 billion rubles, or more than 150% from
14.393 billion rubles on January 1, 2003 to 36.795 billion rubles on December 31, 2003, according to a report on
domestic municipal bond issues in 2003, confirmed by a Moscow government resolution from April 13.
Total domestic bond placements in 2003 at face value amounted to 29.902 billion rubles, with bond redemption
amounting to 7.5 billion rubles.
The Moscow budget received a total of 29.702 billion rubles from securities placements in 2003, at the actual
placement price, compared with 12 billion rubles in 2002.
Spending on servicing Moscow domestic debt in 2003 amounted to 2.092 billion rubles compared with 1.533 billion
rubles in 2002. In addition, miscellaneous expenditure connected with the servicing of state debt in 2003 amounted to
507.88 million rubles.
In 2003 the Moscow government took no steps to optimize debt owed on Moscow municipal bonds and to reduce expenditure
on servicing and redeeming this debt, the report said.
Total municipal debt to be refinanced after December 31, 2003 amounts to 46.097 billion ruble, including 36.795
billion rubles in principal and 9.302 billion rubles in interest payments.
[Interfax] |
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