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President of Russia approves writing-off Kyrgyzstan’s debt of $240 million

The President of Russia Vladimir Putin signed a law on the settlement of Kyrgyzstan’s debt to Russia on previously granted loans of $ 240 million. Rosbalt reported.

As noted, it is about settling the balance of debt of $ 240 million of the total amount of loans previously issued to the Kyrgyz Republic totaling $ 488.9 million. Kyrgyzstan has repaid only $ 55.1 million of the sum.

The agreement on writing-off the debt was signed in 2012. In May 2013, Moscow wrote off almost $188.9 million, and the remaining $ 300 million were to be written off within 10 years.

In February 2017, Kyrgyz President Almazbek Atambayev turned to Vladimir Putin with a request for one-time writing-off of the balance of the debt, explaining it with the need to improve the debt performance of Bishkek.