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. Last Updated: 07/27/2016

Moskvich Debt Deal

MOSCOW -- The Moskvich car factory has become the first Russian business to restructure its debts to the federal budget, Deputy Prime Minister Viktor Khristenko said.

Following a government commission meeting on federal budget revenues, representatives from the deputy prime minister's office said the commission had approved the restructuring of the carmaker's $12.74 million debt to the federal budget under a plan that gives it six years to pay off the principal and another four years to pay off any fines and penalties.