31 May 2004 12:43
FINANCE MINISTRY TO ALLOW RUSSIAN DEBT PAYMENTS FROM STABILIZATION
MOSCOW. May 31 (Interfax) - The Russian Finance Ministry is
prepared to consider early state foreign debt repayment using
FUND
stabilization fund money, the fund having reached 200 billion rubles, Finance Minister Alexei Kudrin has
announced.
Speaking Saturday on Mayak radio, Kudrin said that the fund is a "safety cushion" against oil price
collapse.
"Nevertheless, when this cushion becomes enough, these funds need to be used to pay off debt, so as to reduce
the high interest rates we pay on them every year. The government is thinking over this proposal," Kudrin said.
It was announced earlier that the stabilization fund is to be built up to the 500 billion-ruble mark; only after that
level is reached can the funds therein be used for other aims, including early state debt repayment.
[Interfax] |
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