Russia makes debt payment to IMF - 17 March, 2003

Russia paid about $26.962m to the International Monetary Fund (IMF) for its debt to this organization, the Russian Finance Ministry reported to RBC. The payment is equal to 19.469 million SDR (Special Drawing Rights, an accounting unit within the IMF). It was executed strictly according to the initial schedule of payments, the Ministry stressed. This is the second payment of the three settlements due this month. On March 7, 2003, Russia repaid EUR52.500m to the IMF. The last payment in March will amount to SDR19.469m and is scheduled for March 28.

Throughout 2003, Russia is to repay about $2bn (1.559bn SDR) to the IMF. As of January 1, 2003, Russia's debt to the IMF amounted to about $6.4bn. The total volume of Russia's foreign debt payments in 2003 is estimated at $17.3bn this year.