Russia to stick with U.S. dollar reserves despite downgrading   2011-08-06 21:23:06 FeedbackPrintRSS

MOSCOW, Aug. 6 (Xinhua) -- Russia would not review the amount of reserves it holds in U.S. dollars after the United States lost its AAA credit rating, Russian Deputy Finance Minister Sergei Storchak said Saturday.

"We will not review it, because there is not much difference between AAA and AA+," Storchak was quoted by Interfax news agency as saying.

Meanwhile, Pavel Medvedev, a member of the State Duma's financial market committee, told RIA Novosti news agency the U.S. downgrading would not influence Russia.

"I don't think this will have any consequences for us. Any rating is, in fact, a sort of prediction, which can or cannot come true," he said.

Standard and Poor's said Friday it was dissatisfied with the plan Congress came up with earlier in the week to reduce the country's debt and stripped the world's largest economy of its AAA long-term sovereign credit rating, lowering it one notch to AA+.

Editor: Yamei Wang
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