31 May 2006


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Business Today



Russia to settle Soviet debts with Malta

Matthew Vella

Russia will settle all its debts with other countries by the end of this year, finance minister Alexei Kudrin said.
Malta will be among those countries with whom Russia will settle Soviet-era debts, probably dating from the early nineties when the Malta Shipbuilding provided the USSR with timber carriers.
“There is the hope that we will settle debts with all foreign states, including member countries of the Paris Club, this year,” Alexei Kudrin said. “Russia has had a good banking history in the past few years and will settle debts with all its creditors.”
Kudrin said Russia had assumed full responsibility for the former Soviet Union's debts, which was a heavy burden.
Deputy Finance Minister Sergei Storchak said Russia was planning to settle its Soviet-era debts this year with Serbia, Montenegro, Croatia, Malta, Slovenia, Macedonia, and Greece.

mvella@mediatoday.com.mt



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