Armenia Fully Pays off Debts to Russia

Armenia has fully paid off her debt to Russia, which totaled about USD 100 million. According to the government's press department, this was announced yesterday by Russian Prime Minister Mikhail Kasyanov at the end of Russian-Armenian intergovernmental talks. In order to pay off her debt, Armenia gave Russia the following enterprises: the Mars metal firm, the Razdan Power Station, the Yerevan Materials Research Institute, and the Yerevan Research Institute for Systematized Control Systems.

According to Kasyanov, all technical and organizational questions related to these enterprises will be resolved by April 2003. 'We believe that the potential of these enterprises will be fully realised in programmes that exist in Russia and that the enterprises themselves will be integrated into the country's production sphere,' he stressed.