ARGENTINA EYES RUSSIA'S DEBT RESTRUCTURING EXPERIENCE

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BUENOS AIRES, November 17, (RIA Novosti) - Argentina is looking with interest into Russia's experience of restructuring its foreign liabilities, said Sergei Stepashin, chairman of Russia's Audit Chamber, currently staying in the Argentine capital.

He said this theme was discussed at meetings with Argentina's vice-president Daniel Scioli and Argentina's Auditor General Leonardo Despui.

"Russia has managed partly to reschedule its foreign debt and the Argentina is very much interested in our experience in this respect. We ventilated this question at a meeting with Argentina's vice-president," the head of Russia's Audit Chamber said.

The issue of repaying external debts was also discussed during an assembly of the Organisation of Higher Bodies of Fiscal Control of Latin America and Caribbean (OLACEFS), which Stepashin attended as the head of a delegation of Russia's Audit Chamber.

"For Latin American and Eastern European countries, including Russia, this is a very important and significant theme. Conceptually we agreed that all topics relating to debt should be closely monitored and be under tight financial control," Stepashin added.

He also said that the OLACEFS meeting likewise examined the struggle against corruption and money laundering. "Conference participants pointed to the considerable efforts being made by the working group on money laundering and suppression of financial terrorism," Stepashin pointed out. He recalled that the group was set up on Russia's initiative and its proceedings involve superior fiscal control bodies of all countries.

Taking up the subject of cooperation with Argentina, Stepashin noted: "For our part, we found it interesting to get familiarised with the Argentine experience of privatisation."

"Argentine has already finished the job of summing up privatisation, and we have similar problems with theirs. True, they have gone further than we and privatised even the radio frequencies, and cannot now find them," Stepashin said on a humorous note.

"We also agreed with our Argentine opposite numbers to seek new ways of expanding our cooperation in the format of Russian-Argentine trade and economic relations, make an analysis and see what stands in the way of invigoration of our cooperation," Stepashin said.

He also pointed out that "Russia is currently rapidly moving into Latin America". Argentina, according to him, is also extremely interested in high-level contacts.

"We have never had any complications or misunderstandings with Latin America, in particular Argentina. Relations between our countries have always been those of traditional friendship," Stepashin concluded.

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