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Politics : Gold and Silver Stocks and Related Commentary

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From: loantech	5/17/2005 10:12:11 AM
	of 18308

Business THE SHARE OF EURO IN RUSSIA'S INTERNATIONAL RESERVES CAN BE INCREASED TO 50% 14:46 MOSCOW, May 14 (RIA Novosti) - The share of the euro in the Russian gold and foreign currency reserves can be increased to 50%, said Pavel Teplukhin, president of the Troika Dialogue managing company. "The country's international reserves must be maximally adjusted to the balance of payment structure," he thinks. "And the balance of payments consists of two parts, the trade balance and the capital account." Russia's main trade partners are EU countries, with whom settlements are made in the euro, Teplukhin said. On the other hand, debts (to the International Monetary Fund and the Paris Club) are assessed in the dollar, but their servicing will cost less owing to their early repayment. The company president views this as one more argument in favor of transition to the euro. en.rian.ru

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