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. Last Updated: 07/27/2016

MinFin Plan Due Soon

MOSCOW -- Acting Finance Minister Mikhail Kasyanov said Thursday he hoped next week to present creditors with a proposal to restructure the third tranche of MinFin bonds, on which Russia is in technical default.

"I do not rule out that we shall do it next week. I mean we shall not announce the plan, but we shall give the product to creditors for consideration," he said at a news conference.

Russia failed in May to pay $1.3 billion in principal on the third MinFin tranche, restructured dollar-denominated Soviet debt that is considered domestic by the government.