"This is virtually the entire sum of the Soviet-era debt that Russia can repay ahead of schedule. We cannot repay $9 billion early because Germany issued maturity-linked securities in this amount," the source said.
The source added that the Paris Club member countries could use the funds from Russia's early repayments to replenish the capital of World Bank institutions under an initiative to write off the debts of the world's poorest nations.
The source said Russia, as president of the Group of Eight club of the world's richest nations, would support Britain's initiative to write off the $37-billion debt of the poorest countries over 40 years.
He said Russia's early repayment of $11-$12 billion would help the Paris Club enlarge payments to the International Development Association and the International Monetary Fund as part of this initiative.
