Mongolia fully repays big debt to Russia

2016-03-02 14:58:53

Prime Minister Mr Saikhanbileg has handed to the Ambassador of the Russian Federation Mr Iskander Azizov the document on extinguishment  of a remaining part of a big debt owed to Russia. This remaining part of Mongolia’s unsettled debt to Russia was equal to $174.2 million US dollars. 

The document shows the evidence that the Ministry of Finance and the Bank of Mongolia had transferred to Russian Federation the amount of money, equivalent to 3,8 million US dollars

Prime Minister said that by extinguishing this debt, many economic opportunities are opening for Mongolia to launch new financial cooperation with Russia and to penetrate into the international financial market.

In 2004, Russia and Mongolia had worked out a deal that allowed Mongolia to pay off a 2% remaining part of the great debt out of 11.4 billion Russian rubles which was created during the former Soviet era.