Russia to pay off its debts

President Vladimir Putin strongly believes Russia must meet its debt obligations. "Russia has undertaken these obligations. If we are a civilised country, then if we make a commitment once we have to stand by it. Russia has never refused [to pay]. But there can be only one approach here. We have paid, are paying and intend to pay off the debts considering that the development of our own economy and the fulfilment of social obligations to the population on this basis are the main priority for us," Putin said in an interview with four Russian newspapers, Interfax reports. He admitted that one of the peaks in his country's foreign debt payments is looming in 2003. In his opinion, he said, what makes things worse is that “the country's capital assets are worn out and a critical situation in this respect is also expected in 2003.”