Passenger plane crashes in CubaWorld April 29, 22:49
US anti-missile systems in Eastern Europe violate INF Treaty - Russian foreign ministryRussian Politics & Diplomacy April 29, 20:35
Moscow police say 250 people take part in protest rallyWorld April 29, 16:29
Abe plans to continue dialogue with Putin to solve global issuesWorld April 29, 14:50
Moscow is ready to cooperate with Washington on Syria — LavrovRussian Politics & Diplomacy April 29, 12:24
Diplomat calls US’ allegations about isolation of Russia in UN 'strange'Russian Politics & Diplomacy April 28, 20:58
Experts slam 'Russian hacking' hype as 'fake news' to feed US media's ratingsRussian Politics & Diplomacy April 28, 20:35
Ferrari drivers clock best time in Practice Two of Russia F1 GP in SochiSport April 28, 19:54
Red Bull’s advisor Marko says Kvyat to possibly remain with Toro Rosso next yearSport April 28, 19:16
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.”.