January 12, 2005 |
|The Russian Finance Ministry transferred about 48.4 million euros to the International Monetary Fund on Wednesday as part of the payment of the country's debt to the IMF, ministry sources told Interfax. |
The payment, which is equivalent to SDR41.667, was made according to schedule.
On January 21, the ministry will make two more payments to the IMF: one of $85.2 million (SDR56.031) and another of $12.2 million (SDR8.004).
In 2005, Russia will spend about $1.4 billion (SDR912.88) on repaying and servicing its debt to the IMF.
Russia's debt to the IMF stood at $3.5 billion as of January 1, 2005, as compared to $5.1 billion on January 1, 2004.
Late last year, Russia said it was ready to repay its debt to the IMF ahead of schedule. These plans were supported by the IMF administration. Russia's current schedule envisions paying off its entire debt to the IMF by 2008.