Russia's foreign debt shrinks

Russia's foreign debt decreased USD9.2bn in 2004 to USD110.5bn as of January 1, 2005, the Russian Finance Ministry said. Russia's debt to Paris Club creditors was cut by USD4.6bn to USD43.1bn as of January 1, 2005. Debt to other countries decreased USD0.4bn to USD6.6bn. Russia's debt to international financial organizations decreased 2.4 times to USD9.7bn. Russia owed to the International Monetary Fund USD3.5bn as of January 1, 2005, down from USD5.1bn on January 1, 2004. Russia owed the World Bank USD5.7bn as of January 1, 2005, compared to USD6.6bn a year ago. Debt to the EBRD remained stable.