MOSCOW: A quarter of a century after the fall of the Soviet Union, Russia is finally set to pay off all the foreign debt it inherited from the vanished Communist empire.
Keen to establish a reputation of a reliable borrower despite Western financial sanctions over the Ukraine conflict Moscow announced last week it would pay off US$125.2 million in Soviet-era debt to Bosnia-Herzegovina within 45 days.
The payment “completes the settlement of the external public debt of the former USSR, which is a historic event,” said Russia’s deputy finance minister Sergei Storchak.
In February, Moscow paid $60.6 million to Macedonia.
After the Soviet Union’s …read more
Source: Free Malaysia Today
