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GAAP.RUNewsMinfin still uncertain whom to borrow from

Minfin still uncertain whom to borrow from

Publication date: 30 June 2009

The Ministry of Finance of the Russian Federation hasn’t made a decision yet in respect to external borrowing scheduled for 2010 – said the finance minister’s deputy Dmitry Pankin. “We’ll see later in what form it would be better to attract external funds – whether there will be finances from international organization, a syndicated bank loan, or eurobonds. We’ll decide later”, - he said.  

Russia’s government doesn’t want to completely spend the whole Reserve Fund and the National Welfare Fund on covering the budget deficit, which is why the Ministry of Finance of the Russian Federation wants to go for external borrowing – either from the World Bank, the European Bank of Reconstruction and Development and the European Investment, or through eurobonds.