Wednesday, August 17, 2005

Long forgotten everywhere but in Russia and Europe money deal

I found this article very interesting. It is on Russian language, so I will take several of the important paragraphs and explain what they are about.

В эту субботу Россия должна будет выплатить оставшуюся сумму от досрочного погашения долга перед Парижским клубом кредиторов в размере около $2 миллиардов. Общая сумма платежей по обслуживанию и погашению долга с 2002 по 2020 год составит $55,5 млрд., из которых примерно 99% - придется на долги бывшего СССР. Интересно, что СССР по сумме взятых и выданных кредитов вроде бы никому не был должен, наоборот - должны были ему. Как же так талантливо удалось погасить задолженность бывшего Союза, в результате чего Россия осталась должна

Here, author states that this Saturday Russia will make a payment of $2 billion to Paris club of creditors. It states that the $55.5 billion is total sum of money Russian Government will pay between 2002 and 2020 for debt and fees. Author also states that 99% of this money is USSR debt, but he also brings a fact that at the moment of "breaking" USSR had no debt, and some countries were in debt with us.

Однако даже на время, забыв о самом долге, становится как-то обидно. Россия платит за Советский Союз, то есть и за Украину с Грузией, за Прибалтику с Узбекистаном и Киргизией, то есть за всех тех, кто в данный момент считает нашу страну, чуть ли не главным врагом

These sentences bring out an interesting fact. It is that Russia pays for USSR and therefore all the countries that succeeded from it and those that count us as the main Enemy.

Этим летом Россия выплатила Парижскому клубу $13 миллиардов в счет досрочного погашения долга, чем завершила первый этап выплат в текущем году. Однако назревает вопрос, раз деньги у нас есть - почему бы ни выплатить весь долг сразу, целиком, пока наши золотовалютные резервы трещат по швам от богатого нефтяного урожая? К сожалению, западные бизнесмены совсем не заинтересованы в смягчение "процентного бремени" для России.

I find this article the most interesting. This summer, Russian Federation, paid $15 billion ($13+$2) to Paris club, in досрочного погашения (not sure what is the best way to translate this) basically in order to speed up getting out of debt(not paying just the minimum but way extra). Author also asks a question: Why not pay out the debt right now, while there are a big extra from oil sales. His answer is that European businessman are not interested in loosing their profits from the percentage that Russia pays every year on its debt.

....Talking about European businessman, sure like their profits over well being of a country.


Ghost Particle said...

wow, first time i'm reading a russian post. Must learn some of the language some time. Can you post a post offering translations for simple words Karthoska?

Like hello, good morning, and stuff...?

Back to the post. Ive always wondered why oil rich countries like Russia, Indonesia and the middle east continues to pay debts and such. Funny economics, funny world. the Paris club are the the G8 countries i presume.

Thank you.

Pradeep said...

Wonder how a super power like USSR is down to a situation of becoming Russia, and now in a situation of paying debts to a small country like France.

Tamizhan said...

Indha Paris club kandhu vaddiku russiaku kaasu kuduthurkaanga pola.....

Kartoshka, i was saying the Paris club are like the moneylenders in TamilNadu today...drinking the blood of the guy who takes the loan by making him pay interest even though he can pay off the loan....

Kartoshka said...

Pradeep, France is just one out of 8 countries in the club. Who, as a club, lended money to Russia. Money were needed to rebuild the country.
I am not completely understanding you, Ghost. Do you mean making a post with list of commonly used english words and their translations?

Ghost Particle said...

Hey Kartoshka,

nah i mean like an informative post. Yes like u said, maybe u can create a new post with common russian words and their english translations.