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Finance Ministry discloses fundraising plans
RBC, 25.03.2009, Moscow 12:09:06.According to its plan, Russia's Finance Ministry will place RUB 529bn (approx. USD 15.9bn) worth of debt securities, Russia's Deputy Prime Minister and Finance Minister Alexei Kudrin said at a Russian banking conference today. At the same time, the ministry will repay RUB 100bn (approx. USD 3bn) of securities, which leaves the net amount to be raised at RUB 429bn (approx. USD 12.89bn). In 2008, the Finance Ministry placed securities equal to RUB 266bn (approx. USD 8bn), indicating that the net amount will be doubled. This is something the country has to get accustomed to, as the main goal is to finance budget deficit, the minister said.
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