FOREIGN LOAN POLICY OF PAUL I

Abstract

This article analyzes the development of the external state debt of the Russian Empire during the reign of Paul I. That period was marked by dynamic processes in Russia's foreign policy in general and in the development of its foreign debt in particular. For instance, they solved the problem of taking on by the empire of the foreign debt of Poland and of those Polish magnates who had put their estates in pledge in foreign banks. Also, the due date of Russia’s own foreign debt was prolonged. As for the debt obligations between Russia and Italy, the problem was that the latter was occupied by French troops who constantly attempted to confiscate bonds from their owners. At the very end of the XVIII century, Russia began to receive subsidies from England to finance its military expenses for the Napoleonic wars. Different interpretations of the terms by the Russian and the British sides led to a de facto suspension of the Russian foreign debt service.

Keywords

• russia
• external debt
• paul i
• poland
• england