The Moscow city government does not plan to negotiate a restructuring of its $315 million debt on Eurobonds, payments on which are due in May, the head of the municipal borrowing committee said Thursday.
Published:
31 March 2000 y., Friday
"So far the issue of restructuring has not been raised, and later we_ll see," Sergei Pakhomov told the press. The city authorities are now getting ready for the payments due this spring, he said. Besides the dollar Eurobonds, the city is due to pay a Eurobond coupon of DM 45.625 million on April 8, and a coupon of 39 billion Italian lira on May 18. Pakhomov also said the city government is setting aside reserves to service the foreign debt in 2001. In the spring of next year Moscow is due to redeem Eurobond issues of DM 500 million and 400 billion Italian lira. Pakhomov said that by the time these payments are due the reserves will total about 5.5 billion rubles. The funds are currently investment in liquid securities.
Šaltinis:
Interfax
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