Russia to repay World Bank debt ahead of schedule

11 February 2008

Size of debt to be repaid will depend on the size of the penalties for early repayment.

Russian Deputy Finance Minister Dmitry Pankin said that “Russia expects to settle ahead of schedule most of its $5 billion debt to the World Bank in the first half of 2008”. Pankin stated that the size of debt to be repaid ahead of schedule will depend on the size of the penalties for early repayment.

“It is assumed now that Russia's liabilities will be calculated as of the end of March or early April 2008," he said.

Russia's overall debt to the World Bank amounts to about $4.5 billion. The Finance Ministry suggested earlier that some $3.2 billion out of the amount could be repaid early.

Source

Russia To Settle Part Of Debt To World Bank By July, World Bank Press Review, February 11, 2008. (World Bank website)