MOSCOW, August 2 (RIA Novosti) - On August 20, Russia will redeem the remaining $2 billion of debt to the Paris Club of creditor nations, said a Finance Ministry source.
Payments will be made to five countries: Austria, Belgium, Spain, Norway, and Japan.
August 20 is the yearly deadline for repayment of both interest and debt principal to the Paris Club, according to the original timeframe for payments. The choice of date for early repayment was chosen by the creditor countries.
Funds for the debt redemption were taken from the Russian Stabilization Fund at the end of June to help achieve the strategic goal of lowering the debt burden and freeing up extra funds by reducing interest payments.
