January 11, 2005 |
|The Russian Finance Ministry hopes to use money in the Stabilization Fund to pay off the most expensive part of Russia's foreign debt in the next three to four years, according to Finance Ministry information published on the government's official website. |
The most expensive debt in Russia's foreign debt portfolio is debt to the Paris Club, which amounts to about $46 billion. $7 billion - $10 billion may be paid out from the Stabilization Fund in 2005 to refinance this debt early. As of December 1 the Stabilization Fund contained 462.5 billion rubles.