Russia to cut debts in 2002

1 March 2002

Russia plans to reduce its debt to the Czech Republic by some $210 million this year, by supplying goods including nuclear fuel and electricity, according to the Czech Finance Ministry.

The ministry said that the deal, which is part of a long-term agreement on paying off Russia's $3.6 billion debt to the Czechs, was agreed by delegations led by finance minister Ladislav Zelinka and his Russian counterpart Sergei Kolotukhin.

Kolotukhin has said that another part of the debt would be resolved over the next four to five years, also through nuclear fuel deliveries.

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