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The agreement between the Government of the Republic of Kazakhstan and the Government of the Republic of Tajikistan on conditions of reorganization of debt obligations of the Republic of Tajikistan in front of the Republic of Kazakhstan

of November 22, 1995

The government of the Republic of Kazakhstan and the Government of the Republic of Tajikistan which are hereinafter referred to as with the parties

aiming at further deepening of mutually beneficial relations, for the purpose of maintenance of the economic reforms undertaken in the Republic of Tajikistan, and also in view of difficult economic situation in the Republic of Tajikistan, and in connection with the appeal of the Government of the Republic of Tajikistan,

agreed as follows:

Article 1

The Kazakhstan Side, considering impossibility of accomplishment by the Republic of Tajikistan of earlier assumed debt obligations, reviews procedure, conditions and repayment periods of the public credit granted to the Republic of Tajikistan according to the intergovernmental agreement of August 26, 1993.

Article 2

The Tajik Side recognizes, the Kazakhstan Side confirms that the total amount of public credit taking into account the payments for repayment of percent and the main part of debt made by the Tajik Side for 1994-1995 as of January 1, 1996 constitutes 18286092 US dollars.

Article 3

The public credit granted to the Republic of Tajikistan will be reorganized on the general terms for all countries creditors offered by the International Monetary Fund on debt repayment.

Article 4

The Tajik Side shall after obtaining from the IMF of terms of return of debts to the states creditors in a month report to the Kazakhstan Side these conditions. To the Ministries of Finance of the Parties together with National Banks to specify the outstanding amount of the Republic of Tajikistan which is subject to reorganization as of 01.01.96 and to develop the mechanism of its return.

Article 5

The parties agreed that on the public credit granted according to the Agreement of August 26, 1993 the Government of the Republic of Kazakhstan to the Government of the Republic of Tajikistan since 01.01.1996 charge of percent stops, and terms and repayment provisions will be determined on the principles of Article 3 of this agreement.

Article 6

This agreement becomes effective from the date of its signing and stops the action for date of complete repayment by the Tajik side of amount of debt.

It is made in the city of Almaty on November "22", 1995 in three authentic copies, everyone in the Kazakh, Tajik and Russian languages, and all texts are equally authoritative.

 

For the Government of the Republic of Kazakhstan

For the Government of the Republic of Tajikistan

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