Debt for refi operations in forex should be repaid before end of 2017

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Debt for refi operations in forex should be repaid before end of 2017 - Nabiullina

MOSCOW. Sept 16 (Interfax) - Russian banks before the end of 2017 will completely repay the debt on refinancing operations in forex, Central Bank Governor Elvira Nabiullina said at a press conference on Friday.

"We look to banks fully repaying their debt on FX refinancing operations before the end of 2017, thereby enabling the foreign currency reserves to grow. Importantly, even the risky oil price scenario ($25 a barrel) identifies no material threat to the balance of payments," Nabiullina said in quotes posted on the Central Bank website.