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The agreement between the Government of the Republic of Tajikistan and the Government of the Russian Federation on debt restructuring of the Republic of Tajikistan on the public credits granted by the Russian Federation

of February 12, 1997

The government of the Republic of Tajikistan and the Government of the Russian Federation which are hereinafter referred to as with the Parties

recognizing need of the fastest settlement of problem of overdue payments on repayment and servicing of the public credits granted by the Russian Federation to the Republic of Tajikistan

considering difficult economic situation in the Republic of Tajikistan,

in view of efforts of the Government of the Republic of Tajikistan on implementation of the program of economic reforms begun with assistance of the International Monetary Fund and other international financial institutions and directed to stabilization of finance and national currency

agreed as follows:

Article 1

The Russian side grants to the Tajik Side delay on payment:

a) the payments delayed in 1995 in the amount of 67, 27 million US dollars in repayment of principal debt on the public credit granted by the Russian Federation to the Republic of Tajikistan according to the Agreement on provision by the Government of the Russian Federation to the Government of the Republic of Tajikistan of public credit in cash Russian rubles for their one-time exchange for rubles of sample of 1961-1992 in the territory of the Republic of Tajikistan of November 23, 1993;

6) the payments delayed in 1996 in the amount of 35, 74 million US dollars, in repayment of principal debt on the loans granted by the Russian Federation according to the following agreements:

The agreement between the Government of the Republic of Tajikistan and the Government of the Russian Federation on renewal of debt on the technical credits following the results of 1992 and January-April, 1993 in public credit to the Government of the Republic of Tajikistan of May 15, 1993;

The agreement between the Government of the Republic of Tajikistan and the Government of the Russian Federation on renewal of debt on the technical credits following the results of January-June, 1992 and January-June, 1993 in public credit to the Government of the Republic of Tajikistan of July 20, 1993;

The agreement between the Government of the Republic of Tajikistan and the Government of the Russian Federation on public credit for 1993 of July 20, 1993;

The agreement on provision by the Government of the Russian Federation to the Government of the Republic of Tajikistan of public credit in cash Russian rubles for their one-time exchange for rubles of sample of 1961-1992 in the territory of the Republic of Tajikistan of November 23, 1993:

The agreement between the Government of the Republic of Tajikistan and the Government of the Russian Federation on public credit for 1994 of April 13, 1994 regarding the means issued till July 1, 1996;

c) the payments which are subject to payment in 1997 in the amount of 35, 88 million US dollars in repayment of principal debt on the loans granted by the Russian Federation according to the agreements specified in the Item of this Article;

d) the payments which are subject to payment in 1998-2000 in the amount of 107, 63 million US dollars in repayment of principal debt on the loans granted by the Russian Federation according to the agreements specified in the Item of this Article;

e) the added percent in the amount of 41, 18 million US dollars for use in 1993-1996 of the credit till July 1, 1996.

Repayment of the specified debt in the amount of 287, in 7 million US dollars will be made during 1999-2008, from them in 1999 - 11.7 million US dollars, in 2000 - 20, by 0 million US dollars and in 2001-2008 - annually in the amount of 1/8 parts of the amount of the restructured debt remaining after introduction of payments in 1999 and 2000. Within every year payments will be made by quarterly equal shares, no later than the 30th day of the last month of every quarter.

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