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. Last Updated: 07/27/2016

$60.1M Paid to IMF

MOSCOW -- Russia made a $60.1 million loan payment to the International Monetary Fund on Tuesday, the Finance Ministry said.

Russia has kept up with its payments to the IMF despite defaulting on billions of dollars in loans in 1998. Moscow wants to remain in the fund's good graces in hopes of resuming a $4.5 billion loan deal suspended last year.

The payment came two days after Vladimir Putin won presidential elections with more than 52 percent of the vote, according to preliminary results. Putin says Russia will honor its financial commitments and maintain relations with the IMF but shouldn't be too dependent on loans.

Russia has paid $1 billion of the $3.6 billion it owes this year to the IMF.