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Events

The decision for Russia to pay back the entire Soviet debt was a mistake, but it will not be reconsidered

April 11, 2005
19:10
Joint press conference with German Federal Chancellor Gerhard Schroeder.
Joint press conference with German Federal Chancellor Gerhard Schroeder.

At a joint press-conference with the German Federal Chancellor Gerhard Schroeder in Hannover, Vladimir Putin mentioned the debts of the former Soviet Union, saying that Russia cannot and will not reconsider the decision made in the past to pay debts for all the CIS countries. Russia always fulfills agreements signed.

The President added that not a single former republic of the USSR, apart from Kazakhstan, would be able to service its part of the debt.

A formula may be developed soon for pre-schedule payment of Russia’s debt to the Paris Club. Russia is economically interested in swift payment of the entire sum of debts, as the conditions of the debt are very burdensome. Russia is paying billions of dollars on interest alone, which could be used to develop its own economy, the President said.

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Published in section: News

Publication date: April 11, 2005, 19:10

Direct link: en.kremlin.ru/d/48639

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Official Website of the President of Russia:

The decision for Russia to pay back the entire Soviet debt was a mistake, but it will not be reconsidered

http://en.kremlin.ru/events/president/news/48639

Last updated at March 20, 2015, 17:58

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