Sunday, January 31, 2016

Russia has written off the debt of Mongolia – RBC

Russian President Vladimir Putin

Photo by Artem Korotaev / TASS

Russian President Vladimir Putin on January 31 signed a law on ratification of an intergovernmental agreement, which Russia and Mongolia signed in 2010. The agreement allows Russia to write off 97.8% of the Mongolian debt ($ 172 million).

«to ratify the agreement between the Government of the Russian Federation and the Government of Mongolia for the settlement of financial obligations of Mongolia to the Russian Federation, signed in Moscow on December 14 2010 “, – stated in the text of the law, which is published on the official website of legal information. The law was passed by the State Duma on January 22 and approved by the Federation Council on January 27.

An intergovernmental agreement was signed by the countries in 2010 after the Russian-Mongolian talks at the level of Heads of Government in Moscow. On the Russian side in the negotiations involved then held the post of Prime Minister Vladimir Putin, from Mongolia – Prime Minister Suhbataryn Batbold.

In a signed document states that the total amount settled through the financial obligations of Mongolia categories of debt as of December 14, 2010 is approximately $ 174.2 million. The agreement allows Mongolia not to pay 97.8% settled through amount, or about $ 172 million.

Finance Minister Alexei Kudrin after signing an agreement in 2010 stated, that Russia will consider the possibility of Mongolia’s new loan of $ 125 million.

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