Cbanker: Russia passes peak of foreign debt redemption

MOSCOW, Nov 30 (PRIME) -- Russian banks and companies have passed the peak of external debt redemption, and redemption volumes will gradually decrease until 2019, Sergei Moiseyev, a directors of the central bank’s financial stability department, said Monday at a meeting of the Federation Council, the parliament’s upper house.

“The peak of external debt repayment has been passed, and now we have a very moderate and gradually decreasing repayment profile until 2019,” he said.

The debt of banks on refinancing in foreign currencies has fallen to U.S. $25 billion from $36 billion at the beginning of the year, he said.

“No special measures of a new anti-crisis plan are necessary in 2016, as the macro-economic dynamics has been smoothed out and the primary goal was reached. Now we should deal with effectiveness of spending of the disbursed money,” he added.

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