Why Russia will never get rid of external debts

On the eve it became known that our country did not have the so-called "pure public debt." This means that, thanks to petrodollar savings in the NWF, Russia can now and now pay off all its public debts. But is it necessary to do this, and how does this threaten “young democracy”?




A public debt in the broad sense of the word is the aggregate external and internal obligations of the federal and regional authorities, as well as of all municipalities. We make a reservation that it does not include the debts of state corporations, only Gazprom owes about 4 trillion rubles. The total public debt is now 16,2 trillion rubles, that is, 15% of the country's GDP, which is unusually small by world standards.

Russia in this aspect is a unique and extremely reliable borrower. “Kudrin’s scissors”, cutting off excess profits from the sale of oil, allowed the government to create a very impressive financial pill. The total assets of the regulator’s reserves currently exceed the national debt by 1,25% of GDP. This is gratifying, but is there anything particularly rejoicing for ordinary Russians?

Pay all debts?


It is no secret that the developed capitalist countries are trying to drive the developing countries into financial bondage by hanging a debt noose around their necks. For example, today, Western lenders are demanding from Kiev "big privatization" as a condition of payment and the issuance of new external tranches. And Nezalezhnaya will not go anywhere, it will give everything back, and that's why.

History knows attempts to combat such financial expansion of big business. In particular, Romania in the seventies of the last century was planted on the “credit needle” of the West, which made it totally dependent on the “grace” of foreign financiers. The Romanian leader, Nicolae Ceausescu, made a strong-willed decision to get rid of this noose and began policies austerity in the country in order to pay all external debts.

As a result, the task was completed, but at a high price. Romania at that time became one of the poorest countries in Eastern Europe. Ceausescu quarreled not only with the West, but also with the Soviet leadership, headed by M. S. Gorbachev, saying:

Rather, the Danube will reverse, than the restructuring in Romania.


Deprived of the support of the USSR, Ceausescu was declared in the Western media "a Romanian dictator who commits heinous crimes." At the end of December 1989, the head of state was overthrown, he and his wife Elena appeared before the tribunal, which in just two hours convicted them of destroying the national economics and genocide. The sentence was carried out on the same day, despite the fact that the couple had 10 days to appeal it. The couple Ceausescu was shot on the street near the soldiers' restroom.

This is such an instructive story for those who want to get rid of the Western debt noose.

Invest in Russia?


The question of the need to invest accumulated reserves in the Russian economy was raised repeatedly. But things are still there. Our financial authorities and debts prudently do not pay off, and do not invest money in the country, frightening sinister inflation.

It is likely that the policy of investing petrodollars in foreign economies will continue. But one must understand very clearly that at any moment, at the suit of the same Ukraine, assets can be seized by an American or European court and confiscated. On the other hand, officials from the Central Bank of the Russian Federation and the Ministry of Finance are not risking their own personal money, right?
Photos used: https://tradernet.com
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  1. Sergey Latyshev Offline
    Sergey Latyshev (Serge) 11 September 2019 11: 59
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    Crap, IMHO. There are no fools, even Putin somewhere said that money behind a hill is safer ... they say they’re not stealing so simply ...
    1. Bakht Offline
      Bakht (Bakhtiyar) 12 September 2019 00: 47
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      Putin said something completely different. He said that money over the hill is in danger. Literally "torment dust swallow."
      You need to know the classics, and not drive here "get along."

      1. Sergey Latyshev Offline
        Sergey Latyshev (Serge) 12 September 2019 11: 33
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        Here you have already climbed.

        Torment dust swallow.

        - Talked about the money of the oligarchs. After which Deripaska refused to return RUSAL from offshore to Russia, Abramovich became an Israeli citizen, and everyone, together with Usmanov, was suing Norilsk Nickel for some reason in London ... And -

        ... over the hill is safer.

        (not literally, in a straight line it was somehow up to "dust") - about the money of reserve state funds.
        1. Bakht Offline
          Bakht (Bakhtiyar) 12 September 2019 16: 45
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          You are confusing something. The money of the oligarchs is the money that has left Russia. And the money of state funds also lies over the hill. Take an interest in how much state funds (including pension) lost from the crisis in Cyprus.
          It was precisely that holding money over a hill is dangerous. Unlike you, who claims that it’s safer to keep them there.
          In general, this is a strange policy. Just the prime minister (head of government) Medvedev says that it is necessary to withdraw money to offshore (even Russian) because there is a lower tax rate. And the same Medvedev says that "there is no money." And where do they come from, if the same RusAl is taken offshore with a special tax rate. Dimon does not break the template, for the simple reason that there are no brains at all.
          1. Sergey Latyshev Offline
            Sergey Latyshev (Serge) 12 September 2019 17: 29
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            Tse I did not say so, Tse President.

            The money of the oligarchs is the money that has left Russia.

            - yes. Capitalism is the same. Offshore. Mermaid witness.

            Money from state funds also lies over the hill.

            - spoke about that. The president.

            Dimon .... what - no brains at all?

            - on the contrary.
            There are brains, but there is no money, only for suffering ... for their own clear boys, on the contrary, there is money ...
      2. Sergey Latyshev Offline
        Sergey Latyshev (Serge) 12 September 2019 11: 44
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        Decree of the Government of the Russian Federation of December 29, 2007 N955 “On the Procedure for Managing the Funds of the Reserve Fund” provides for the placement of fund assets in foreign currency or foreign assets with a long-term credit rating not lower than “AA-” according to the classification of Fitch-Ratings and Standard & Poor's; or not lower than “Aa3” according to the classification of Moody's Investors Service [9].
  2. Digital error Offline
    Digital error (Eugene) 11 September 2019 12: 08
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    Our financial authorities and debts prudently do not pay off, and do not invest money in the country, frightening sinister inflation.

    Moreover, instead of the task of “zeroing” inflation, the task is to “target” it — that is, maintaining a predictable (so that you can build further business plans with a known profit) plan level. Well, and whoever plans inflation (and implements systematically, for years and decades), he “dances” it, making profits due to the difference in rates. The practice of capitalism.
  3. Marzhecki Offline
    Marzhecki (Sergei) 11 September 2019 12: 22
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    Quote: Sergey Latyshev
    Crap, IMHO. There are no fools, even Putin somewhere said that money behind a hill is safer ... they say they’re not stealing so simply ...

    How can I steal the reserves of the Central Bank of the Russian Federation?
    1. Sergey Latyshev Offline
      Sergey Latyshev (Serge) 12 September 2019 11: 36
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      see above.
      It was (not verbatim) in response to a question (like on a straight line or in an interview) why we are holding reserve funds not in Russia and in bucks ...
      I can’t say more precisely when and where. Long.
    2. The comment was deleted.
  4. Nick Offline
    Nick (Nikolai) 11 September 2019 15: 33
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    The author, obviously, is not aware that Russia is actively, at an accelerated pace, buying gold, investing in the yuan. The share of the dollar and the euro is gradually decreasing.
  5. Marzhecki Offline
    Marzhecki (Sergei) 11 September 2019 15: 46
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    Quote: Nick
    The author, obviously, is not aware that Russia is actively, at an accelerating pace, buying gold, investing in the yuan. The share of the dollar and the euro is gradually decreasing.

    The author is in the know. Buying gold is good, but it is not an investment in Russia, its real sector.
  6. zenitovets Offline
    zenitovets (Ivan) 12 September 2019 18: 42
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    Get it from Russia - from a dead donkey ears!