Following the designation of Russia as a 'market economy' by the US Department of Commerce in June 2002, the country is improving its economic performance and regularly services its foreign debts.

East West Debt, solving defaulted trade and bank debt

East-West Debt march 2003 news, update : RUSSIA

We are pleased to present another issue of East-West Debt news update on the debt situation in the world. International events influence the solutions for solving overdue trade and bank debts. East-West Debt can offer our readers attractive financial solutions for solving non-performing trade and bank debts ...

... thanks to the expertise of our international network of experts. East-West Debt is an international financial company specialised in the recovery of overdue debt. To be successful to our clients, we give the highest priority to attractive creativity, quality and integrity for solving overdue debts in high risk countries.

East-West Debt offers financial solutions to multi-nationals, banks, governments, and insurance companies in solving overdue debts in high-risk countries in:

Africa,

the Middle East,

Eastern Europe,

Latin America,

South-East Asia.

For solving overdue debts, East-West Debt is using the following solutions:

debt equity swaps

debt for counter-trade

debt for debt swaps

debt collection

international litigation

debt recovery

defaulted emerging market debt

Russia

Following the designation of Russia as a "market economy" by the US Department of Commerce in June 2002, the country is improving its economic performance and regularly services its foreign debts. Russia has paid $1.5 billion in 2002. On January 1, 2003, Russia owed the IMF some $6.4 billion.

Russian policy of regular debt service gains support from other governments and international financial institutions. The World Bank, for example, extended a $100 million loan to Russia to help it modernize its fiscal administration. The loan will be used to press on with reforming and modernizing the Russian fiscal bureaucracy in order to improve its effectiveness, its fiscal legislation and a fair application of these laws.

The goal is to help Russia boost macro-economic stability, improve conditions for developing the private sector and strengthening public administrations. The United States have also forgiven $300 million of debt in exchange for Russia`s securing its nuclear material. This debt forgiveness comes under the provision that the United States can approximate $3.8 billion Soviet era debt to America. Russia will spend that money on programs to ensure that nuclear warheads and other weapons of mass destruction are eliminated.

ALGERIA ARGENTINA BRAZIL EGYPT
INDONESIA IRAN IRAQ RUSSIA NIGERIA PAKISTAN TURKEY UKRAINE SAUDI-ARABIA AZERBAIJAN

East-West Debt has made every effort to ensure the accuracy of this publication. Neither the company nor any contributor can accept any responsibility for -including but not limited to- errors, omissions, opinions or advice given. This publication is not a substitute for professional advice and all information is for guidance only.