Central Banking

CBR asks government to repay its debts

RUSSIA - The Central Bank of Russia (CBR) recorded a pretax profit of about R4 billion for 2000, a nearly threefold increase over 1999, CBR chairman Viktor Gerashchenko reported.

Given that the draft budget for last year was fulfilled with a surplus, CBR believes that the government is now in a position to pay off its debts to CBR that have accumulated since the financial crisis in 1998.

After that crisis, the Finance Ministry stopped servicing the short-term T-bills held by CBR, thus saddlin

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