"This means that the IMF can now use Russia's money in its own transactions, and the ruble is deemed to be a usable currency for those transactions. This has not happened just yet - it will take another couple of months, perhaps," Mozhin said, adding that the IMF would not be issuing loans in rubles.
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Russia To Become IMF Creditor
Russia is set to become a creditor within the International Monetary Fund during the next two months
Russia is set to become a creditor within the International Monetary Fund (IMF) during the next two months after settling the remainder of its debt at the end of January, Alexei Mozhin, the IMF's managing director for Russia, Interfax informed.
Russia paid the IMF $3.3 billion on January 31 and the same day switched to a special IMF statistical data dissemination standard. Simultaneously, Standard & Poor's upgraded Russia's sovereign rating to investment level.
"This means that the IMF can now use Russia's money in its own transactions, and the ruble is deemed to be a usable currency for those transactions. This has not happened just yet - it will take another couple of months, perhaps," Mozhin said, adding that the IMF would not be issuing loans in rubles.
"This means that the IMF can now use Russia's money in its own transactions, and the ruble is deemed to be a usable currency for those transactions. This has not happened just yet - it will take another couple of months, perhaps," Mozhin said, adding that the IMF would not be issuing loans in rubles.
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