After financial obligations of Mongolia to Russia will be settled, the authorities are able to raise the issue again about the possibility of a large ruble-denominated credit, said Deputy Minister of Finance Sergey Storchak.
MOSCOW, 19 Jan. Mongolia after the settlement of financial obligations before the Russian Federation may resume the issue of large credit rubles, said Deputy Minister of Finance Sergey Storchak.
During the Tuesday meeting of the state Duma Committee on financial market, it was decided to recommend to the lower house of Parliament to ratify the agreement on the settlement of financial obligations of Mongolia to the Russian Federation, signed in Moscow on 14 December 2010.
“Of course, once the theme is settled, Mongolian Republic will resume the question she asked, about the financial loan ruble, large. If we say that we have unresolved issues… now you will have to enter into negotiations,” — said Storchak at the session of the Committee.
While on Monday, he said that Russia in the conditions of budgetary constraints will be forced this year to take a break in the granting of new loans to foreign borrowers, however all previously made commitments will be fulfilled.
The Russian government has submitted a draft ratification of the agreement on the settlement of financial obligations of Mongolia to the state Duma in the end of November 2015. As noted in the explanatory documents, as of 14 December 2010 the total outstanding financial obligations of Mongolia to the Russian Federation amounted to the equivalent of 174,2 million US dollars. The whole amount of debt overdue.
In December 2010 the Russian Federation and Mongolia have agreed to write off 97.8% of the Mongolian debt, the then Minister of Finance Alexei Kudrin said that Russia may provide Mongolia a new loan for $ 125 million.
