THE RUSSIAN DEBT NEGOTIATED AS EARLY AS SEPTEMBER

Business | August 18, 2001, Saturday // 00:00

Russia starts negotiations on paying off her debt to Bulgaria, the Russian newspaper `Vedomosti` wrote. Russia is to negotiate with creditors outside the London and Paris clubs whom she owes liabilities inherited by the USSR. `Vedomosti` quotes deputy Finance Minister Sergei Kolotuhin, to whom the negotiations are to start in September. Before this term the Russian government is to consider the proposal of the MoF on paying off all the liabilities amounting to $18.65 billion. The Bulgarian Ministry of Economy elaborated that after the new government took office no letters have been exchanged with Moscow on the matter of the debt. To this day, it is not clear who the members of the new Bulgarian-Russian working commission are to be. Talks on expert level are expected to take place in early September. Russia owes about $100 million to Bulgaria.

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