Russia not considering Rusnano default, to boost efficiency

MOSCOW, Nov 23 (PRIME) -- The Russian government is working to raise effectiveness of nanotechnology corporation Rusnano but none of them envisages a default, the Finance Ministry said in a statement on Tuesday.

"The Russian government is currently working on mechanisms to increase Rusnano's efficiency, including the closure of a historical project portfolio," the statement read. The authority added that the lineup of the board of directors will be changed.

"None of the considered scenarios of company's efficiency increase envisages non-fulfillment of debt obligations of the company backed by state guarantees," the ministry said.

The central bank suspended Rusnano's bond trading on November 19 after receiving information about debt restructuring negotiations in the company.

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