CUBANET ... CUBANEWS

September 19, 2001



Russian government agrees to Cuba paying off debt in goods

BBC Monitoring Service - United Kingdom; Sep 18, 2001. Text of report in English by Russian news agency Interfax . BBC News Online

Moscow, 18 September: The Russian government has approved a draft protocol to be signed by the governments of Russia and Cuba on procedures for Cuba to repay its debt by supplying goods and services.

Prime Minister Mikhail Kasyanov signed the pertinent resolution on Monday, the government information service reported.

The Finance Ministry has been instructed to hold talks with Cuba together with the foreign affairs and economic development ministries and the Vneshekonombank and to sign the protocol on behalf of the government after an agreement has been reached.

The draft protocol envisages that Cuba will provide goods and services worth a total of 31.7m US dollars in 2001 to repay its debt to Russia.

If Cuba's debt is not fully repaid through goods and services by 1 March 2002, Cuba will make up the difference in cash by 15 April 2002 in freely convertible currency after Russia presents payment notification, the document says.

Source: Interfax news agency, Moscow, in English 1546 gmt 18 Sep 01
/BBC Monitoring/ © BBC.

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