Sunday's deal followed approval by the International Monetary Fund last Wednesday of a new $4.5bn loan for Russia over 18 months. This weekend's Paris Club talks are to be followed by separate negotiations with the London Club of commercial creditors on Tuesday.Reuse content
RUSSIA STRUCK a deal yesterday with the Paris Club of official creditors to reschedule Soviet-era debts falling due this year and next. The Itar-Tass news agency reported Russia would now pay about $600m in 1999 and 2000, instead of $8bn. An overall settlement on the total Soviet- era debt owed to the governments belonging to the Paris Club, about $38bn, would be discussed in autumn 2000.