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Why though: Russia writes off Kyrgyzstan’s debt in full

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December 9, 2017 – FRN – 

Vesti – translated by Inessa Sinchougova 

President of Kyrgyzstan Sooronbay Zheenbekov has signed the law on ratification of agreements between Kyrgyzstan and Russia, on the total write-off of the state debt of the republic, the press service of the Kyrgyz leader reports.

In 2012, the two heads of state agreed on a settlement by writing off the republic’s debt to the Russian Federation for a total of $ 488.9 million. In May 2013, Russia wrote off 188.9 million to Kyrgyzstan.

The remaining amount was planned to be settled within 10 years – $ 30 million annually. In 2017, the countries agreed on the possibility of a one-time settlement of the national debt, the balance of which amounted to 240 million dollars, reports. 

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