Russia is ready to repay $2.7 billion out of a $4.8 billion International Monetary Fund credit extended before the 1998 economic crisis, local news agencies quoted President Mr Vladimir Putin as saying today.
"Out of $4.8 billion, we are ready to start active repayment this year and next, as well as the debts due in 2003. The total volume of the payments will amount to $2.7 billion," Interfax quoted Mr Putin as saying at a meeting with IMF managing director Mr Horst Koehler.
Mr Koehler is now in Moscow on a three-day official visit.
The IMF extended the $4.8 billion loan to the central bank in July 1998 to help support the failing rouble, but the currency crashed a month later. The central bank gave $1 billion out of this loan to the finance ministry.
It was not immediately clear when the credit is due.