Reply #5: LA Times says "most" [View All]

[acmejack]

snip>
When Russians look ahead, they feel that they are on a roll. Thanks to sky-high oil prices, Russia is flush with cash. It has paid off much of its foreign debt ahead of schedule.

http://www.latimes.com/news/opinion/la-op-menon20aug20,0,6762871.story?coll=la-opinion-rightrail

snip>

Russia has paid off in full its $23.7-bln debt to the Paris Club of Creditor Nations, Vnesheconombank (VEB) said Monday.

On the instruction of the Finance Ministry, Vnesheconombank, which acts as the Russian government's foreign debt payment agent, made payments worth $1.27 billion on August 18-21 to repay the principal and pay interest on its debt to the Paris Club.

VEB also transferred $22.47 billion to the Paris Club to repay its remaining debt ahead of schedule, Vnesheconombank said.

http://en.rian.ru/russia/20060821/52925947.html

While I was seearching I found this intersting tidbit too!

snip>
Uncle Sam has reneged and defaulted on up to 40% of its trillion-dollar foreign debt, and nobody has said a word except for a line in The Economist. In plain English that means Uncle Sam runs a worldwide confidence racket with his self-made dollar based on the confidence that he has elicited and received from others around the world, and he is a also a deadbeat in that he does not honor and return the money he has received.

How much of our dollar stake we have lost depends on how much we originally paid for it. Uncle Sam let his dollar fall, or rather through his deliberate political economic policies drove it down, by 40%, from 80 cents to the euro to 133 cents. The dollar is down by a similar factor against the yen, yuan and other currencies. And it is still declining, indeed is apt to plummet altogether.

http://www.atimes.com/atimes/Global_Economy/GA06Dj01.html