16 June 2004 08:29
Finance Ministry wants no Eurobond placement in 2004
MOSCOW. June 16 (Interfax) - The Finance Ministry has suggested that Russia not use its right to place Eurobonds in
2004, a ministry source told reporters on Wednesday.
This recommendation comes before the June 17 government session, which will address the main parameters of the 2005
budget.
Additional revenues are expected to replace 41.7 billion rubles,
and the savings on foreign debt servicing and repayment thanks to
"We are not planning to borrow on the foreign market according to the expected budget implementation with such
oil prices," the source said, recalling that it was initially planned to draw $2.76 billion by placing Eurobonds in
2004.
" Additional revenue, together with the savings made on foreign debt servicing and repayment thanks to exchange
rate differences, will be used to replace this $2.76 billion," the source said.
exchange rate differences is expected to replace 45 billion rubles, the source said. [RU ASIA EUROPE EEU EMRG GVD
EUB] me tl
[Interfax] |
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