MOSCOW -- Russia has extended until July 1 the deadline for restructuring government paper issued before the August 1998 economic crisis, a government official said Monday.


A previous offer to take part in the restructuring of GKO treasury bills and OFZ bonds was open until May 1, 1999, then extended until the end of last year.


A total of 3.4 billion rubles ($119 million) of the GKOs and OFZs remains unrestructured since the government first offered to restructure about 188.1 billion rubles of the paper after a failure to service them following the crisis.