Central Bank: external debt repayments in 2016 will be halved in 2015

Central Bank: external debt repayments in 2016 will be halved in 2015


Russia’s foreign debt from January 2014 to October 2015 dropped by 30%, every year the payments will be less, said the head of the CBR Elvira Nabiullina.

MOSCOW, 21 Oct. Payments on the external debt of the Russian Federation in 2016 will be half of 2015, the Bank of Russia sees no risks here, said the head of the CBR Elvira Nabiullina.

“We are ready for any situation, we have a proven set of tools, which in the case of these external negative effects we can apply, including foreign exchange and refinancing, which we included to make it easier to pass the peaks of payments of external debt”, — said the head of the regulator.

“Despite this difficult period, and in terms of financial penalties, unavailability of funds in foreign markets, our foreign debt from January 2014 to the current date declined by 30%. This is a large amount reduced the debt burden of our Russian economy,” she said.

“For the future we have less worry because every year the payments on foreign debt less: next year they will be about two times smaller (than this year — ed.), and the situation will improve. We constantly monitor our companies, the debt situation with the option to pay — there are no risks we do not see”, — said Nabiullina, speaking in the state Duma.