Russia wants to pay off Soviet debts next year

Russia is planning to pay off former USSR debts in 2004, Russian Deputy Finance Minister Alexey Ulyukayev declared at a round table meeting in the Audit Chamber today. He noted that the share of the unsettled part of Soviet debts was 5 percent in the structure of Russia's total debt as of the middle of 2003. The deputy minister specified that Russia was actively negotiating this problem with Kuwait, Turkey, Yugoslavia and Malta. The problem of Soviet debts has been settled with Thailand, Oman and South Korea, he added.

According to the Russian Central Bank, Soviet debts amounted to $55.3bn as of July 1, 2003, including $41bn to the Paris Club. Russia's total debt was $159.1bn as of July 1, 2003.