KYRGYZSTAN OFFERS TO SWAP EQUITY FOR DEBT.

With $40 millionworth of debts to Russia falling due in 1995, Kyrgyzstan proposeseither rescheduling or transferring shares in Kyrgyz enterprisesto Russia as debt repayment. Kyrgyz officials told Interfax July6 that they would favor the creation of joint Kyrgyz-Russian enterprisesregardless of the resolution of the debt issue, in order to guaranteeaccess to Russian supplies and markets and thus preserve localjobs. Moscow officials have seen such joint enterprises as a meansto promote Russian influence in the countries of the CIS.

Now We May Understand One Another.