BOFIT Viikkokatsaus / BOFIT Weekly Review 2015/16
As of end-March, Russia’s total foreign debt was $560 billion. The value of debt has declined substantially since the peak at over $730 billion in mid-2014. Part of the reduction in the value of the debt reflects the ruble’s depreciation (about a quarter of Russian foreign debt is denominated in rubles). In 1Q15 the effect of exchange rate changes has, however, been more modest. The public sector accounts for less than 10 % of foreign debt.