Oct 14, 2021
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Russia’s external debt approached $ 500 billion

Russia’s external debt has grown since the beginning of the year by $ 21.9 billion (4.7 percent) and amounted to $ 489.2 billion as of October 1, according to the Central Bank (CB).

The decisive role in the fact that the debt indicator approached $ 500 billion was played by the receipt of special drawing rights (SDR) by Russia. SDR is an artificial means of payment created by the IMF. SDR is only used for cross-border payments and cannot be cashed out. Russia has directed funds to replenish reserves.

In late August, the IMF channeled $ 650 billion in SDRs to help the global economy recover from the crisis. The United States got the most – 17.4 percent of the total, Russia got 2.71 percent ($ 17.5 billion). The funds received are reflected in the external debt of the Central Bank.

In August, Russia’s international reserves reached $ 615.6 billion and renewed their all-time high. The previous record was recorded on May 28, 2021, when Russia accumulated $ 605.9 billion.

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