A SUPPLEMENT TO EUROMONEY – APRIL 1997Russia’s domestic capital markets are developing at an impressive pace. Companies wishing to raise equity or debt capital will continue to look to the international markets of course, but it may not be long before Russian entities can raise some finance in the domestic markets through bond issues. The Russian government’s own fund-raising activities account for this progress. The Russian treasury bill market (the GKO market) has grown from its start in 1993 to reach outstandings of over $40 billion today. |
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