BERLIN, August 14 (RIA Novosti) -- Russia and Germany have signed a final agreement on the early repayment of part of Russia's Soviet-era debt to the Paris Club of Creditor Nations, a German Foreign Ministry spokesman said Monday.
The Russian Finance Ministry has said the country will save $7.7 billion by paying off its debt early.
"Under the agreement, Russia will make early repayment of over 8.14 billion euros ($10.4 billion) of its debt, which was restructured under the Consolidation 4 and 5 Agreements of 1997 and 2000, respectively," the spokesman said.
He said the agreement with Russia's largest creditor would be a "basis for similar agreements with Russia's remaining creditors in the Paris Club."
Russia will start repaying its remaining $21.3-bln debt to the Paris Club on August 21 through its state-owned bank, Vnesheconombank, which will act as the Russian government's payment agent.
