RUSSIA'S EXTERNAL DEBT CUT DOWN BY $5.4 BILLION IN 2004

MOSCOW, April 26, (RIA Novosti) - The volume of Russia's sovereign external debt as of January 1, 2005, according to the latest estimate of the Russian Finance Ministry, totaled $114.3 billion. During 2004, it diminished by $5.4 billion. These figures are contained in Finance Ministry materials prepared for an enlarged board meeting of the Ministry.

Earlier the Ministry estimated the volume of external debt as of January 1 of the current year at $110.5 billion. The largest proportion of the external debt as of January 1 was indebtedness on foreign government credits ($53.89 billion) and indebtedness on state securities expressed in foreign currency ($42.46 billion).

Russia's debt on credits of international financial organizations, according to the latest estimate of the Finance Ministry as of January 1 of the current year, was $9.69 billion, on credits of the Bank of Russia, $5.5 billion, on credits of foreign commercial banks and firms, $2.45 billion and on Russia's guarantees in foreign currency, $350 million.

As of January 1, 2004 the overall volume of external debt, according to Finance Ministry figures, totaled $119.7 billion.