03:50 GMT +324 March 2018
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    MOSCOW, July 15 (RIA Novosti) - The minimization of foreign loans doesn't mean that Russia is curtailing its cooperation with international financial institutions, Russian Prime Minister Mikhail Fradkov said on Thursday, while opening a regular Cabinet session.

    Positive Russian economic-development results of the last few years, as well as a budgetary surplus, which was chalked up during the last several years, enable the Government to minimize foreign-loan volumes and channel such loans into federal-level programs alone, Mr. Fradkov told his audience.

    At the same time, Russia keeps providing additional money for such projects. This doesn't mean that we are scaling down our cooperation with international financial institutions, Mr. Fradkov went on to say.

    Russia must unfailingly abide by its previous commitments, also heeding the relevant reform-related experience of financial institutions, he stressed. Consequently, the issue of domestic and foreign loans must be analyzed in line with precisely this approach, Mr. Fradkov informed those present.

    The Cabinet will also examine the allocation of Russian loans to foreign countries today; this issue should be discussed in the context of promoting Russian exports and this country's producers on global markets.

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