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From:The Free Dictionary

Thursday, August 24, 2006

Russia Pays Off Debt

Putin gets Russia out of debt. Bush, well... you know. Eight years ago the U.S. was looking at surpluses, Russia was in default.
Oil Profits Help Russia Pay Off Soviet-Era Debt

By Peter Finn
Washington Post Foreign Service
Tuesday, August 22, 2006; Page A12


MOSCOW, Aug. 21 Eight years after it defaulted on more than $40 billion in debt and slid into financial chaos, Russia transferred $23.7 billion to the Paris Club of creditors Monday, wiping out the last of its Soviet-era debts and underlining the extent to which oil and gas revenue has transformed the country's finances.
From The Washington Post

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