radon wrote:prajeshbhat wrote:Russia did pay back some of is debt after the collapse of USSR.
Russia has paid the entire USSR debt.
The debt had been evaluated at tens of billions of dollars by the beginning of the 2000s, but it was successfully restructured. The swap in the amount of $31.7 billion to Eurobonds became a landmark financial event, Money Times wrote.
After the 1998 financial crisis, Russia ran into difficulties with its debt service and in 2000 agreed a second restructuring with the London Club, under which PRINs and IANs were swapped for Russia's sovereign Eurobonds worth $31.7 billion with maturities in 2010 and 2030.
Overall, the Finance Ministry has made four debt swap offers, which have been accepted by 99.9% of creditors, RIA Novosti said.
In August of 2009, the Russian government supported the Finance Ministry’s Initiative to finally solve the debt issue with the London Club. It also became clear that the Russian Federation would enter the market of foreign loans again.
Yes, Russia paid off a whopping 31.7 billion in debt from the USSR, because nobody would lend them any money after they defaulted on their own debt in 1998. Whoop de doo.
It's crazy, looking at that tiny little number, 31.7 billion, in comparison to the amounts of money being thrown around these days as we move from crisis to crisis.