Government Foreign Debt Management

Vnesheconombank as a specialized state-owned bank has the most complete information and account database on the status of government foreign debt making it possible to exercise comprehensive and ongoing monitoring of this debt. The Bank has accumulated considerable experience in reconciling, settling and restructuring debt obligations of the Russian Federation.

Highly qualified Vnesheconombank’s specialists have unique expertise in reconciling, settling and restructuring various categories of government debt including:

  • official debt on credits extended or insured by authorized organizations of Paris Club member states;
  • unofficial debt to private commercial banks incorporated in the London Club of Creditors, whose credits are not covered by the system of government guaranties and insurance;
  • commercial (FTO) debts to foreign banks and companies on documentary letters, collections, bills, drafts, short-term and mid-term commercial credits, contracts with payment deferral and other commercial liabilities;
  • official debt outside the scope of the London Club under intergovernment agreements.

They are making constant efforts to improve foreign debt management through more extensive use of alternative debt repayment schemes, for example, deliveries of Russian-made goods including high-tech industrial products and conducting conversion-exchange transactions.