Russian Central Bank Chairman Says No Plans to Buy EFSF Debt

Russia’s central bank isn’t planning to purchase debt issued by the European Financial Stability Facility until there’s more clarity regarding the rescue fund, Chairman Sergey Ignatiev said.

The European Central Bank may be forced to increase sovereign-bond purchases to lower borrowing costs in distressed euro countries and contain the “extremely severe” debt crisis, Ignatiev told reporters in Moscow today.

To contact the reporters on this story: Alena Chechel in Moscow at achechel@bloomberg.net; Artyom Danielyan in Moscow at adanielyan@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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