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

Kazakh central bank approves €1bn assistance package for four banks

Kazakhstan’s central bank announced on October 18 that it has approved an assistance package worth KZT410bn (€1.04bn) for ATF Bank, Eurasian Bank, Tsesna Bank and Bank ... more

Hungarian retail investors continue to pile into domestic government bonds

The stock of government bonds held by households rose by HUF154bn (€500mn) September to an all-time high of HUF6.5 trillion, Hungary’s Government Debt Management Agency (AKK) said on October 16. ... more

Ukrainian central bank bans Russian banknotes, coins depicting occupied territories

The National Bank of Ukraine (NBU) has forbidden local banks and the country's financial institutions to perform any cash transactions using the new banknotes and coins issued by the Russian central ... more