Monday,Oct 29,2007
Govt to repay Russian debt http://www.business-standard.com/banking/storypage.php?tab=r&autono=302518&subLeft=1&leftnm=2
Anindita Dey / Mumbai October 29, 2007
In another attempt to utilise foreign exchange reserves, the Union government has decided to retire the entire amount of debt owned to Russia.
According to sources close to the development, the funds of longer tenure, amounting to around $2 billion, were lent to the government way back in the 1970s and 1980s for defence projects and infrastructure development. http://www.business-standard.com/banking/storypage.php?tab=r&autono=302518&subLeft=1&leftnm=2