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Putin Says Russia’s Self-Sufficiency Lets It Skip Bond Dash

  • No need for central bank to rush boosting currency reserves
  • President says he never gives directives to Bank of Russia
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Putin Assures Russian Reserves Support Foreign Trade

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President Vladimir Putin said Russia has the fiscal health to finance its budget without joining the biggest rush to foreign debt markets by developing nations in three years.

“There have been enough people willing to buy our financial instruments,” Putin said in an interview with Bloomberg News in Vladivostok on Russia’s Pacific coast. “We simply don’t have the need today with the government’s reserve funds of about $100 billion. This is pointless, bearing in mind the cost of borrowing.”