MOSCOW, February 11 (RIA Novosti)-Russia could make massive savings every year if it is able to pay off its debts to the Paris Club of Creditor Nations early, the finance minister said Saturday.
"In the event of the successful implementation of the early repayment of Russia's remaining debt to the Paris Club, the annual interest payment savings could reach $1 billion," Alexei Kudrin said.
"If we clear the debt, for example, this May, then by the end of 2006, Russia will save up to $600 million on interest payments," he said, adding that this figure could rise to $1 billion in subsequent years and even $1.1 billion in 2007.
