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Nabiullina said that there will be no default in Russia

Nabiullina said that there will be no default in Russia

Ministry of Finance of Russian Federation has all resources to fulfill its obligations, so there is no question of default. This was stated by Bank of Russia Governor Elvira Nabiullina on Friday after a meeting of the Board of Directors of the regulator.

“As for the Ministry of Finance meeting its obligations on debts – I would like to notice once again that the Ministry of Finance has resources, and from the economic point of view, no default is out of the question,” she said.

Nabiullina said that there are difficulties with payments. “I hope that all this will pass and end successfully,” she added.

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

According to the Russian Ministry of Finance, Russia’s foreign public debt was $59.5 billion as of February 1, 2022, including debt on foreign bonded loans – $38.97 billion. Russia has 15 active bonded loans with maturities from 2022 to 2047.

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Written by Medvedev

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