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Russian finance minister Alexei Kudrin announced Russia’s plans for external financing in 2010 - and a “road show” scheduled for 2009. “We should probably consider the possibility to enter external financing markets in 2010, and this year, we plan a road show without actual financing in order to get potential investors acquainted with our plans and tasks. We will do this job”, - Mr. Kudrin promised.

Chief of the Minfin’s tax department Konstantin Vyshkovsky estimated that at the initial stage, Russia would hardly be able to attract more than 5 billion USD. “I don’t think one can count on any amount more than 5 billion dollars today. Russia hasn’t borrower since 1998, so we can’t ask for more. The market should be ready. It is not even a solution to the deficit problem. At the moment, one can’t speak of any effective neutralization of the deficit with funds out of the Reserve Fund of Russia”. 

As for the “road show” scheduled for 2009, Mr. Vyshkovsky confirmed that it would be “transaction-free”: no actual deals signed, no funds attracted. He said that the success of Russia’s entering to the external financing market would depend on the situation, and in that respect, the main task was to create “adequate landmarks for Russian corporate borrowers”.

Source: RBC