Putin writes off Kyrgyzstan's debt of $240 million

Vladimir Putin wrote off Kyrgyzstan's debt worth $240 million. Since 2013, Russia has forgiven Kyrgyzstan debts totalling almost $500 million.

President Vladimir Putin signed the law on the ratification of the agreement between the governments of Russia and Kyrgyzstan on the settlement of the loan debt of the latter.

The parties agreed to write off the debt in June last year, during the visit of Kyrgyz President Almazbek Atambayev.

It goes about the decision to write off Kyrgyzstan's debt to Russia totalling $240 million. Russia wrote off the first part of the debt - $188.9 million - in 2013. Kyrgyzstan still owed Russia another $300 million. Since Kyrgyzstan was not able to repay the debt, the countries agreed to write it off in instalments of $30 million a year. By May 2017, when it was proposed to write off the Kyrgyz debt in full, Russia wrote off only $60 million.

In 2016, Putin wrote off Uzbekistan's debt worth $865 million. Before that, he had written the debts of Mongolia, Afghanistan and Libya for a total of more than $16 billion.


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