Support The Moscow Times!

Foreign Borrowing Could Rise to $10Bln

Russia may increase its annual foreign market tapping to up to $10 billion if it encounters problems with meeting its increased domestic borrowing plans from 2015 to 2017, Finance Minister Anton Siluanov told journalists Wednesday.

Under the current borrowing plan, the finance ministry plans to raise $7 billion each year until 2016.

But it also plans to increase its net domestic borrowing, which is full borrowing minus redemptions, from just above 400 billion rubles this year to almost 800 billion by 2016.

"If we see that it will be difficult to increase the amount of net domestic borrowing, I do not rule out that, in order to improve the efficiency of our debt policy, we could enter foreign markets with a slightly larger volume of borrowing," Siluanov said, adding that it could be raised by $3 billion.

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.