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The acting president made these comments in an interview with the Russian information agency ITAR-TASS.
According to the agreement, the debt was rescheduled for 30 years and would be paid back by the year 2030. The interest rate for the first seven years would be 2.25%, and would gradually grow to 7.5%. Moreover, the creditors agreed to write off 37.5% of the Soviet-era debt, lowering the total by $10 billion.
The agreement is expected to be signed in two or three months’ time.
Mr Putin thanked First Deputy Prime Minister Mikhail Kasyanov, who negotiated with the London Club, for the result he had achieved.
February 13, 2000