Russia says no question of default on foreign debt

KABUL (Pajhwok):  Despite biting global sanctions, Russia has once again ruled out the possibility of defaulting on foreign debt.

Bank of Russia head Elvira Nabiullina said after a meeting of the Board of Directors on Friday that Moscow has all the resources to meet its obligations,

TASS news agency quoted her as saying: “I would like to reiterate the Finance Ministry has the resources and economically, there can be no question of any default.”

Earlier, IMF’s European Department Director Alfred Kammer said the low level of Russian sovereign debt and market conditions cut the risks for Moscow in case of a possible technical default.

As of February 1, 2022, Russia’s external public debt stood at $59.5 billion, including debt on external bond loans – $38.97 billion. The Russian Federation has 15 active bond loans with maturity periods from 2022 to 2047.

PAN Monitor/mud