Place Debt Collection Russia
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Economy Overview:
Russia ended 2005 with its seventh straight year of growth, averaging
6.4% annually since the financial crisis of 1998. Although high oil
prices and a relatively cheap ruble are important drivers of this
economic rebound, since 2000 investment and consumer-driven demand have
played a noticeably increasing role. Real fixed capital investments have
averaged gains greater than 10% over the last five years, and real
personal incomes have realized average increases over 12%. During this
time, poverty has declined steadily and the middle class has continued
to expand. Russia has also improved its international financial position
since the 1998 financial crisis, with its foreign debt declining from
90% of GDP to around 31%. Strong oil export earnings have allowed Russia
to increase its foreign reserves from only $12 billion to some $180
billion at yearend 2005. These achievements, along with a renewed
government effort to advance structural reforms, have raised business
and investor confidence in Russia's economic prospects.
Requirements:
- Instructions / authority to proceed with negotiated settlement on the company letterhead.
- Full details of the debtor/s and a summary of how the debt was incurred.
- The amount owing, and the particulars of how it is arrived at.
- Other supportive documentation such as invoice, bill of lading etc.
- Copy of demands made by your company for payment, and copy of any correspondence from the debtor/s that is held on file.
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