Gov't plans no Eurobond issue in first half of 2003

The Russian government is not planning to issue Eurobonds in the first half of 2003, Finance Minister Alexey Kudrin told journalists today. He explained that this issue would be unnecessary due to a strong balance of payment and rather large revenues in the first and, probably, in the second quarters of this year.

Earlier the government was considering the possibility of issuing Eurobonds for up to $1.25bn for seven to ten years.

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