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. Last Updated: 07/27/2016

Russia to Halt Bond Offers

NEW YORK -- Russian Finance Minister Mikhail Zadornov said Wednesday the government hopes to raise $15 billion in new tax revenue starting in September and will cease issuing Eurobonds until late in the year, analysts said.

Zadornov, speaking on a conference call from Russia sponsored by Morgan Stanley Dean Witter, also said he expects discussions with the International Monetary Fund on a loan package to conclude by the end of next week, analysts said.

"If he says Russia is not going to issue any more Eurobonds in the near future, he must be very confident in the government's ability to raise money through tax revenue," said Jeffrey Woodruff, Russia analyst at BankBoston, who listened in on the call.