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Russia to decrease state debt in two years
RBC, 25.05.2006, St. Petersburg 12:12:37.The Russian Finance Ministry intends to decrease the state debt to 12 percent of the GDP in the next two years, Russian Finance Minister Alexei Kudrin said today. The state debt accounted for 140 percent of the GDP in 1998. "We have removed all the risks that were considered high in 1998," the Minister said. He noted that Russia had paid off its debt to the International Monetary Fund worth over $3bn and had paid around $15bn to the Paris Club a year before. "Around $22bn are left to pay off the Paris Club, and we hope to do it this year," Kudrin stated. The Paris Club is discussing Russia's suggestion of early repayment of the debt. The Minister hoped that negotiations would be carried out in June and a positive decision would be made. He emphasized that the Finance Ministry hoped to keep the repayment terms at the nominal value set last year.
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