Soviets Having Bill Problems, Ask New Credit

A Foreign Ministry spokesman today acknowledged that the Soviet Union is having trouble paying $2 billion in foreign bills but asked for more Western credits to help move toward a market economy.

“We’re experiencing some commercial difficulties now,” the spokesman, Gennady I. Gerasimov, told a news briefing. “Our perfectly immaculate record on the external market of always paying our debts is now under question.”

Gerasimov quoted the Soviet State Bank president, Viktor Gerashchenko, as saying the Soviet Union has a current accounts deficit, the difference between cash on hand and outstanding bills, of $2 billion.

He said this was due to several factors, including the disruption involved in the transition from central planning to a market economy.

Despite its current difficulties paying its bills, Gerasimov said the Soviet Union needs more Western economic credits like the $3.1-billion West German bank credit backed by the Bonn government this week.

“If we have credits, it will be easier for us to have economic reform,” he said.

European Community leaders meeting in Dublin this week agreed to help the ailing Soviet economy but first ordered aides to consult with the Kremlin about proposals for both short-term loans and long-term assistance.

The leaders fended off a request by France and West Germany to adopt an immediate $15-billion aid package.

Gerasimov said the Soviet Union’s economic potential should be sufficient collateral guaranteeing repayment of large-scale economic credits.