Russia makes another payment to IMF - 7 March, 2003

Russia has made another debt payment to the IMF allocating EUR 52.5m to this international financial organization, a source in the Russian Finance Ministry reported to RBC. This payment corresponds to 41.667m SDR (Special Drawing Rights, an accounting unit within the IMF) and it was conducted strictly according to the original schedule of payments, the source stressed. This payment was the first of three payments due this month.

Throughout 2003, Russia will repay about $2bn (1.559bn SDR) to the International Monetary Fund. The total volume of Russia's foreign debt payments was estimated at $17.3bn this year. In 2002, Russia repaid about $1.5bn (1.2bn SDR) to the IMF.