Russia to write off Kyrgyzstan's debt of $240 million

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Russia to write off Kyrgyzstan's debt of $240 million
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Russia plans to write off Kyrgyzstan's debt worth $240 million, as it follows from a draft protocol to the relevant agreement of the two governments.




The previous agreement on the debt settlement were signed on the 20th of September, 2012, and the draft protocol relates to that document. It states that on the 30th of March 2017, the debt of Kyrgyzstan to Russia amounts to $240 million. After the signing and entry into force of the protocol, 100% of this amount will be written off.

According to the draft, debt amortization will be implemented by Russia within the framework of the “official assistance to the Kyrgyz Republic in its development.”

As it was previously reported, in the first half of 2016, Russia wrote off $30 million debt of Kyrgyzstan, while a total debt of the Republic to the Russian Federation at the end of June 2016 amounted to $270 million.



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