28 August 2006

It would be tragic if it weren't so funny

Russia has now paid off the last of its Soviet debt to the 19 member countries of the Club of Paris.
It's only fitting, given that the Soviets paid off the bonds issued by the imperial government before it.
That leaves Russia with a $56 billion budget surplus, versus the over-$400 billion US budget deficit.
Seems having too much oil at $70+ a barrel is a good thing...

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