Russia’s Foreign Debt Plunges by Record $4.2 Billion in Historic One-Month Drop

Russia’s Foreign Debt Plunges by Record $4.2 Billion in Historic One-Month Drop

Russia's external debt to foreign creditors fell by a record $4.2 billion in April, marking the largest monthly decline in at least 15 years.

According to data from Russia's Ministry of Finance, cited by RIA Novosti, the country's external debt dropped from $63.1 billion at the end of March to $58.9 billion by the end of April.

The previous record decline was recorded in July 2018, when Russia's foreign debt fell by $3.6 billion.

Meanwhile, Russian Economic Development Minister Maxim Reshetnikov said the country is well-positioned to strengthen its reputation as a reliable global supplier. Speaking at the Russia–ASEAN Forum in Kazan, he noted that Russia demonstrated resilience as an exporter despite heightened tensions in the Middle East.

The sharp reduction in foreign debt is being seen as another sign of Russia's efforts to strengthen its financial position amid ongoing global economic challenges.