Zee Beam News

06/21/2006 Regnum News - Russia should continue paying off its foreign debts, Russian State Duma Deputy Speaker Vladimir Pekhtin said to the press on June 20. He is quoted by a REGNUM correspondent as stating that Duma approved agreements between Russia and the Paris Club on settling the rest of Russia's debt till the end of the year. He reminded that Russia paid off part of its debt to the Paris Club ($2bn) in 2005. At that time, she also paid in full to the International Monetary Fund. Nevertheless, there are still other debts to be paid, and the government should continue to consider early debt recovery to all creditors. Mr. Pekhtin maintains that early debt recovery does not induce inflation and undoubtedly increases the country's investment attractiveness. The debts settlement allows both decreasing debts maintenance expenditures and exonerating future generations from the burden. "After Russia settles accounts with the Paris Club, its foreign debt will decrease to about $50bn," the MP said.