Central Banking

Russia will pay debts on time, finance chief

Signalling a renewed spirit of cooperation, a senior Russian government official on Feb 17 told delegates from France, Italy and other countries that his government intends to repay its $38.7 billion (42.35 billion euros) in foreign debt in full and on time. At a meeting in Palermo, Italy, of finance chiefs from the Group of Seven leading industrialized nations, Russian Finance Minister Alexei Kudrin said that, contrary to previous statements from within his government, Russia would seek to c