MOSCOW/ZAGREB, Sept 17 (Hina) - Representatives of the governments of Croatia, Bosnia-Herzegovina, Macedonia, Serbia-Montenegro and Slovenia and representatives of the Russian Federation signed in Moscow on Wednesday a memorandum
determining the amount of the former Soviet Union's debt to the former Yugoslavia.
MOSCOW/ZAGREB, Sept 17 (Hina) - Representatives of the governments
of Croatia, Bosnia-Herzegovina, Macedonia, Serbia-Montenegro and
Slovenia and representatives of the Russian Federation signed in
Moscow on Wednesday a memorandum determining the amount of the
former Soviet Union's debt to the former Yugoslavia. #L#
The memorandum was signed by Russia's Deputy Finance Minister
Sergey Kolotuhin and Zdravko Rogic on behalf of Croatia.
The memorandum sets the debt at 1.292 billion US dollars as money of
account in the debt clearance scheme, while the successor-
countries will hold separate negotiations with Russia on their
individual shares and the model and pace of payment.
It is expected that the division of claims among the Yugoslav
successor-countries will be conducted in line with rules applied to
the distribution of debts Yugoslavia owes to Western creditors.
Under the rules, Croatia has the right to 23 percent or 297.1
million dollars of the claims. The dollar used in this scheme will
be calculated as 62.5 US cents, which means that Croatia's portion
amounts to US$186 million.
In earlier negotiations Russia suggested that it pay back part of
its debt to Croatia in kind, i.e. in oil and gas, as well as to
provide mine clearing services in eastern Slavonia.
(hina) sp rml