MOSCOW, February 26 – The Russian Ministry of Finance is discussing with its Chinese colleagues the possibility of attracting loans in yuan, including raising this topic at the inter-ministerial dialogue between the two countries at the end of 2023, but there is no decision yet, Russian Finance Minister Anton Siluanov said in an interview.
The Ministry of Finance has been considering the possibility of entering the market with bonds in Chinese currency for the last few years. There is no great need for this for the budget – its deficit is successfully financed through internal loans or raising funds from the National Welfare Fund. The ministry previously considered the issue of panda bonds, rather, with the aim of creating a benchmark for future corporate borrowers.
In the current year’s budget, the Ministry of Finance also provided only for domestic loans. Their total volume over the next three years should be about 4 trillion rubles per year.