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Russia has no plans for massive borrowings on foreign markets

MOSCOW, January 15. /ITAR-TASS/. The situation in Russian economy allows the country to make massive cheap borrowings on foreign markets, but Russia does not plan to do it yet, Russian First Deputy Prime Minister Igor Shuvalov said at the Gaidar economic forum in the Russian capital on Wednesday.

“Our macro-economy is in a condition that we can make serious cheap borrowings on the market now, but we do not intend to do so yet,” Shuvalov noted.

In his words, Russia receives constantly proposals from banks and foundations to accumulate reserves, including thanks to a low debt.

“With such a low debt that we have now they propose to make borrowings,” Shuvalov said. “Russia has such ratings and capabilities now to borrow tens of billions of dollars so that the country will be able to pass through possible hard times quite calmly with accrued reserves and this amount of borrowings,” the first deputy prime minister noted.

However, Shuvalov named this path rather original and risky.

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