BOFIT Viikkokatsaus / BOFIT Weekly Review 2015/29
However, the value of foreign debt has contracted sharply compared to a year ago. As of end-June 2014, Russia’s foreign debt was still $730 billion. While a substantial amount of debt has actually been repaid, part of the decline reflects exchange rate fluctuations. About a fifth of Russian foreign debt is denominated in rubles.
Russia’s public-sector foreign debt amounted to $35 billion at the end of June. Banks’ foreign debt stood at $150 billion and that of other firms at $360 billion. State-controlled firms accounted for more than 60 % of banks’ foreign debt and for about 40 % of other firms’ foreign debt.
The CBR estimates debt servicing obligations coming due in the second half of this year will total nearly $80 billion.