Bank Of Baku

Russia writes off Mongolian debt

Russia writes off Mongolian debt
# 15 December 2010 09:25 (UTC +04:00)
Bakı - APA-Economics. An intergovernmental agreement has settled Mongolian debts to Russia, which formed in the Soviet period, Prime Minister Vladimir Putin said after Tuesday negotiations with his Mongolian counterpart, ITAR-TASS reported.

The debts were settled “on terms most preferential for Mongolian friends,” he remarked.

Russia wrote off 97.8% of the Mongolian debt of $172 million, Deputy Prime Minister, Finance Minister Alexei Kudrin said. He said that Mongolia would pay the remaining debt of $3.8 million in one transfer.

Talks between Prime Ministers Vladimir Putin of Russia and Sukhbaatar Batbold of Mongolia on Tuesday yielded nine Russian-Mongolian cooperation documents, including an agreement on settling Mongolia’s financial liabilities to Russia and an agreement on principal conditions to create a joint company for the prospecting, production and treatment of uranium ore.
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