Russia repays $343 mln US agriculture debt ahead of time
Russia has repaid the remaining $343.25 million of its agriculture debt to the US ahead of schedule, saving $46.7 million in interest, a source in Russia’s Finance Ministry said on Friday.
“A payment worth $343.25 million has been made to clear ahead of schedule a loan that the United States granted via the Ministry of Agriculture in 1998,” the source said. The $600 million loan was issued with an 18-year term, ending in 2020, for the purchase of US agricultural produce. Earlier reports said the debt was due to be repaid from the Russian Stabilization Fund. (rian.ru)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.