KYRGYZSTAN SWAPPING SHARES FOR DEBTS TO RUSSIA.
Publication: Monitor Volume: 2 Issue: 86
The governments of Russia and Kyrgyzstan are currently negotiating a sizable transfer of stock in Kyrgyz industrial and mining enterprises to Russia as a means of repaying Russian credits to Kyrgyzstan. The country’s current indebtedness for Russian state credits is reported to amount to $132 million. The sides are said at the moment to be finalizing a list of 39 Kyrgyz companies, mainly in the mining, power-generating, metallurgical, and chemical sectors, in which Russia’s State Property Committee (Goskomimushchestvo) is to take over equity. Goskomimushchestvo plans to sell the equity to Russian firms, which will turn the Kyrgyz enterprises into joint Russian-Kyrgyz enterprises. (Delovaya Rossiia, April 29)
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