|
Russia is capable of repaying its debts to the International Monetary Fund and the Paris Club of Creditor Nations ahead of time, President Vladimir Putin said at a meeting with the IMF’s Managing director Rodrigo de Rago on Thursday.
Putin said Russia was interested in the early debt repayment because it sought to reduce spending on debt servicing – on interest payments.”
“Another reason for this solution is Russia would like to drastically reduce its liabilities to the IMF, which are far smaller than Russia’s | Ads |  |
contribution to the IMF charter capital.”
This will make it possible to Russia to use financial resources far more effectively.
Putin recalled that Russia had turned to the IMF for assistance on eight occasions to have received 22 billion dollars in loans.
“These funds were used for market reform in the economy and to encourage economic growth,” Putin said.
Putin emphasized the fact Russia had complied with its financial liabilities to the fund systematically and on time.
“We shall keep doing so in the future,” he said.
On the other hand, Putin said that Russia remained one of the biggest donor countries that agreed to write off the debts of the poorest counties.
“In terms of the debt write-offs we have agreed to we are number two after Japan and France,” Putin said.
NOVO-OGARYOVO, November 18 (Itar-Tass)
| 
