Mongolia officially pays off its 3.8 million USD debt to Russia


Prime Minister Ch.Saikhanbileg received Ambassador Extraordinary and Plenipotentiary of the Russian Federation to Mongolia Iskander Kubarovich Azizov on Monday to present confirmation of the payment of 3,832,515 USD in Mongolian debt owed to Russia.
During the meeting Ch.Saikhanbileg noted, “We promised to pay off the remainder of the great debt to Russia in February. In this regard, I am handing over a receipt for a transaction of 3,832,515 USD from Mongol Bank to the Russian Finance Ministry.” Emphasizing that this day marked a historic event in relations between the two countries, he noted that new economic opportunities are being opened for the future by paying off the remainder of Mongolia’s financial obligations. At the end of their meeting, the Prime Minister conveyed his gratitude to the authorities who were involved in forgiving Mongolia’s debt, on behalf of Mongolia’s leaders.
During the meeting Ambassador Azizov stressed, “All the financial obligations of Mongolia to the former Soviet Union, the current Russian Federation, have now ended. New opportunities are now open to develop bilateral financial and economic relations,” highlighting that he believes a new door has opened for Mongolia to enter the international financial market.

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Posted by on Mar 2 2016. Filed under Politics. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

1 Comment for “Mongolia officially pays off its 3.8 million USD debt to Russia”

  1. This is a debt settlement from a much higher amount (174.2 million). Why is Russia accepting such a small amount for this debt? So Mongolia can BORROW more to pay for the ridiculously high oil prices Russia demands of Mongolia. This article says it all: http://thediplomat.com/2016/02/why-did-russia-just-write-off-97-of-mongolian-debt/

    Try to get the bigger picture please…

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