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Russia Paid Soviet Debts to the Czech Republic and Finland
25.12.2013 13:00
Russia Paid Soviet Debts to the Czech Republic and Finland

The Russian Federation has paid off Soviet debts of 4.08 billion dollars to the Czech Republic, Finland and Montenegro.

      The press release of the Ministry of Finance has reported about it.

      The debt to the European countries resulted from admission of Russia’s liability for the debts of the former USSR. The Czech Republic has received 3.6 billion dollars under the loan taken up in 1994. Montenegro has been paid 18 million dollars under the contract of 2007.

      Most of the debt to Finland, which is part of the Paris Club of creditors, was cleared off in 2005-2006 within paying off to the club. Remained 30 million dollars Finland received under the contract of 2006. The credits to all the three countries were mostly reimbursed with goods and just partially with money.

      Russia has to return the loans remaining from the USSR era, whereas difficulties emerge with debt recovery by other countries. One of Russia’s recent actions on settling the Soviet debts was making an agreement with Cuba. As reported by Reuters, Moscow then decided to release 29 billion dollars out of 32 billion debt of Havana. The Russian Federation agreed to it provided that Cuba would pay off the remaining 3.2 billion dollars within ten years. In the middle of September, 2012 Russia waived the $11 billion debt of Northern Korea to the USSR.


Author: Vera Ivanova

Tags: Czech Republic Debts The USSR Finance  

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