Russia To Discontinue Debt Payments To Official Creditors At Expense Of Private Lenders

Russia indents to discontinue debt payments to official creditors at the expense of private lenders. Sergey Kolotukhin, Russia's deputy minister of finance, made this statement in an interview with RIA Novosti. He clarified that, in particular, due to the London Club's consent to restructuring Russia's debt, the Russian side was able to resume redemption of the former Soviet debts to the Paris Club. According to the deputy minister, "we believe that all creditors should be treated equally, including the official creditors," who are members of the Paris Club. The measures which Russia intends to take on the Paris Club, "will not affect the interests of private creditors. They cannot make sacrifices all the time," pointed out Kolotukhin in this connection, saying that the Russian government "has been seeking other solutions to this problem so that private creditors run no risks."

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