The Deputy head of the Ministry of Finance: the default VEB excluded

The Deputy head of the Ministry of Finance: the default VEB excluded

MOSCOW, December 4. The default excluded Vnesheconombank, according to Deputy Finance Minister Alexei Moiseev.

“Default VEB excluded”, – he told, answering a question of journalists, whether there will be at VEB for $800 million to repay debt in December.

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© Catherine Shtukina/press service of the government of the Russian Federation/TASS archive

Media: VEB debt by 1.2 trillion rubles can be given to the Ministry of Finance

Moiseev added that the source of funds to repay the debt will be.

As previously reported, the political decision to support the state Corporation has already been taken, the government must soon decide how it will be. Help options are under active discussion with financial authorities and representatives of the Bank.

Vnesheconombank is in need of recapitalization worth up to 500 billion rubles. The speaker at the APEC summit told reporters that the recapitalization of VEB will be substantial, but probably less than 1.5 trillion rubles.

VEB is the second year shows a loss. Under IFRS a loss of Vnesheconombank group in 2014 amounted to 250 billion rubles. In the first half of this year loss of the Corporation amounted to 73.5 billion rubles. The Bank’s assets for the first half of this year amounted to 3.85 trillion rubles.

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© ITAR-TASS/Alexander Astafyev

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