Russia is no longer biggest IMF debtor
Sept 28 (Interfax) - Russia stopped being the International Monetary Fund's biggest debtor in August when it was replaced by Turkey, which received various major stabilization loans from the Fund.
Russia had debts before the Fund of 8.3 billion Special Drawing Rights (SDR) or around $10.8 billion at the beginning of September, while Turkey had debts of almost 9.7 billion SDR ($12.5 billion), the Fund reported on its web site. Turkey was allocated IMF stabilization loans totaling around $7 billion in May, July and August 2001.
Among the Fund's biggest debtors are Indonesia ($9.5 billion), Argentina ($8.4 billion), Brazil ($3.8 billion) and Thailand ($2.2 billion). Among the CIS countries with the biggest debts to the Fund as of August 31 were Ukraine ($1.7 billion), Azerbaijan ($0.3 billion) and Georgia ($0.3 billion). Russia is due to pay the IMF around 585 million SDR ($750 million) in the fourth quarter of 2001.