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RUSSIA NO LONGER LEADING DEBTOR OF IMF, TURKEY NOW RANKS FIRST
MOSCOW. Aug 23 (Interfax) - Russia is no longer the leading debtor
of the International Monetary Fund (IMF), but has been replaced by
Turkey.
Russia had been the main debtor of the IMF since August 1998.
The Russian debt to the IMF had been reduced from $10.572 billion
(SDR 8.487 billion) on June 30, 2001, to $10.57 billion (SDR 8.398
billion) on July 31, according to information from the IMF website.
Meanwhile, Turkey's debt rose from $9.087 billion (SDR 7.295
billion) to $10.694 billion (SDR 8.496 billion) in the same period.
Turkey is now ahead of Russia and Indonesia in its debt to the IMF.
Indonesia's debt to the IMF did not change in July but remained at
SDR 7.768 billion.
The IMF's decision to assign funds to Argentina has not affected
the growth in that country's debt. The country's debt to the IMF
declined from $8.232 billion (SDR 6.609 billion) to $8.191 billion (SDR
6.507 billion) in July.
Turkey, Russia, Indonesia and Argentina had almost 60% of all of
IMF credits by July 31.
The five leading debtors of the IMF at the beginning of 2001 were
Russia, Indonesia, South Korea, Argentina and Turkey.
Analysts from the Interfax Rating Agency say that Argentina and
Turkey will be the top two debtors of the IMF, while Russia and
Indonesia will rank third and fourth by the end of this year.
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