NATO rejects media claims alliance unable of quick deploymentWorld October 21, 13:01
Russia has no doubts Iran observes JCPOA - deputy foreign ministerRussian Politics & Diplomacy October 21, 11:04
Monuments to Soviet troops in PolandWorld October 21, 10:57
Putin and Erdogan give positive assessment to joint efforts in Astana processWorld October 21, 3:03
Privileges to certain languages in Ukraine’s education law to worsen situation — diplomatRussian Politics & Diplomacy October 20, 21:46
International balance of forces in Syria after Raqqa’s liberation unclear yet — expertMilitary & Defense October 20, 21:05
Russia to resume import of aubergines, pomegranates from Turkey since October 30Business & Economy October 20, 20:18
International station to orbit Moon at 70,000 km distance from EarthScience & Space October 20, 20:09
US indulging in lies to have UN-OPCW mission’s mandate extended — Foreign MinistryRussian Politics & Diplomacy October 20, 19:31
NEW YORK, December 6. /TASS/. The Russian Central Bank's foreign exchange reserves (FXRs) are sufficient to cover the country's external debt obligations next year, Moody's Investors Service (Moody's) has said in its report.
As of December 1, the Bank of Russia’s FXRs totaled $361 billion. “This is more than sufficient to cover the country's external debt payment obligations through 2015,” which amount to $130 billion across government, banks and corporate debt, the ratings agency says.
Moody’s says in case of necessity, Russia’s authorities may use two special savings Funds - the National Wealth Fund (NWF) and Reserve Fund (RF) - for paying external debt.
“The need for such action could arise if oil prices were to fall still further, eroding the current account surplus, or if there were a further escalation of tensions/international sanctions,” the report says.
The report notes that the Central Bank’s FX sales to support the ruble dropped from $29 billion in October to $1 billion in November after the decision to switch to a freely floating ruble.
Meanwhile, the severe pressure on the ruble resulting from a fall in oil prices poses a significant challenge to the new exchange rate policy and the CBR will “intervene more aggressively to support the ruble if it believes financial stability is threatened.”.