Putin says most of Russia's corporate debt paid down

By bne IntelliNews April 28, 2015

Russia lost $160bn in forex receipts last year due to the halving of the oil price to $50 a barrel, but was still able to pay down most of its foreign corporate debt due in 2015, President Vladimir Putin told a media forum in St. Petersburg on April 28.

"We've paid all this money [owed], $130bn, and most of the $60bn due for payment this year," Putin said at the event, organised by the Kremlin-created All-Russia People's Front party, Interfax reported. The central bank had previously estimated that Russian companies would have to pay around $65bn in 2015.

The president apportioned most of the blame for the ruble's weakening in 2014 and 2015 to the collapse of oil prices rather than Western sanctions imposed on Russia over the crisis in Ukraine.

Related Articles

Turkish lira’s chronic weakness credit negative for Turkey’s sovereign rating says Moody’s

The chronic weakness of the Turkish lira (TRY) is credit negative for Turkey’s sovereign debt rating and poses ... more

S&P raises Poland’s outlook to positive on rosy prospects of economy in 2018

Standard and Poor’s raised its outlook for Poland from stable to positive on April 13, while maintaining the country’s rating at BBB+.  The raising of the outlook is based on ... more

Iran 'readying move to switch all foreign transactions from dollars to euros'

Central Bank of Iran (CBI) governor Valiollah Seif has said the cabinet is planning to push ahead with proposals to replace the dollar with the euro for all transactions conducted with foreign ... more