Soviets Catching Up on Debt Payments: The...

Soviets Catching Up on Debt Payments: The Soviet Union is repaying overdue debt to foreign firms, but not as fast as it would like, one of the country’s top bankers said in an interview published over the weekend. The Communist Party daily Pravda quoted Yuri Moskovsky, head of the Bank for Foreign Economic Affairs, as saying that more than $1.75 billion has been repaid the past two months. Late payments by Soviet foreign trade organizations, which were until recently prompt payers, have worried Western creditors this year. But bankers say matters improved after Moscow borrowed $3.2 billion from West Germany in June.