All credit instruments were paid to foreign creditors by Moscow government in accordance with an agreement for 2000

The total amount of the debt of the Moscow region reduced by 600m rubles (about $21.4m) in 2000, Advisor to the Finance Minister of the Moscow region Alexey Mostakov reported to RBC. In particular, all debts were paid to the Avtobank and Vozrozhdeniye banks as well as to all budget levels of Russia. In addition, all credit instruments were paid to foreign creditors in accordance with an agreement for 2000. The current debts of the region mainly belong to previous times, Ministry's officials reported. As of this year, only 50m rubles (about $1.79m) were borrowed from the federal budget to pay off wage arrearages. Mostakov was quoted by RBC as saying that the regional Ministry counts upon the 7.8% decrease of the regional budget deficit in 2001.