The Ministry of Finance will supervise the loans of state corporations

27 November 2012, Tuesday

Russian Ministry of Finance has decided to move from monitoring of foreign loans to state-owned companies control their lending policies.

Ministry of Finance proposes to increase the control of the external debt of state corporations, as in the case of a default state companies liable for such debt falls on the budget. Seriously talking about this issue back in the 2008 crisis, when the accumulated debts have become a threat to the stability of the entire financial system: payment of debts, for example, "Rosneft" itself had to spend $ 4.5 billion in total state of crisis were calculated debt of Russian companies and banks to three trillion rubles from the budget and reserves.

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