MOSCOW, August 20 (RIA Novosti) - State Duma (the lower chamber of the parliament) Speaker and United Russia party leader Boris Gryzlov said that Russia had all possibilities to repay the foreign debt ahead of schedule. "The United Russia party deems its necessary to repay the debt ahead of schedule," Gryzlov said Saturday. The money saved from the payment of interest could go to the federal investment fund and used to implement major projects, he added. Russians will feel the easing of the debt burden to the federal budget in 2006 already. Gryzlov hailed the Finance Ministry's decision to repay $14 billion to the Paris Club of Creditor Nations in 2005. He said that Russia had enough funds to accomplish this goal adding that the stabilization fund could also be used for this purpose with no threat to stability of the budget system.
Russia paid the Paris Club of Creditor Nations most of the remaining $2.3 billion it was due to pay back ahead of schedule Friday. The rest will be paid Monday, August 22.
A total of $15 billion will be paid to creditors of the former Soviet Union. Previous repayments worth $13 billion were made on July 15 and 29, 2005.
