Support The Moscow Times!

Ignatyev Laments Debt

Central Bank Chairman Sergei Ignatyev told lawmakers Wednesday that the size of the country's total foreign debt reached 32 percent of gross domestic product, exceeding the level last reached before the crisis.

"It's a lot less than in other countries, but it's a problem," Ignatyev said. Capital has been flowing out of Russia because the investment climate is not very good. "I think the reason — and it is known — is that, frankly, the investment climate is not very good in Russia," Ignatyev said. 

Russia will make external debt payments in foreign and national currencies totaling about $30 billion in the second quarter of 2011, down from $37.7 billion in the first quarter, according to the bank's web site.

(Bloomberg, Interfax)

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more