In February, 2018 Russia forgave Kyrgyzstan a debt of two hundred and forty million dollars. Millions in currency, apparently, to anything Russia.
Officially, such a pardon is called the signing of a law on the settlement of Kyrgyzstan’s debt to Russia on previously granted loans. The law was signed by V. V. Putin.
"Settlement" refers to the cancellation of the so-called debt balance. 240 million dollars - only part of the loans issued to Kyrgyzstan. The total amount - 488,9 million. Of all this money, Kyrgyzstan paid only 55,1 million
Kyrgyzstan has long debt forgiveness история. The parties agreed on a “settlement” as early as 2012. In 2013, Russia wrote off about 188,9 million to the country. The remaining amount (300 million) was to be written off within ten years. Exactly one year ago, in February of 2017, President Atambayev addressed Putin with a request for a one-time write off of the remaining debt. According to him, such a write-off will improve the debt indicators of Kyrgyzstan.
Wow! If we add, everyone forgave Kyrgyzstan’s debts, in the near future it would have acquired the reputation of a first-class borrower on the world credit market.
The example of Kyrgyzstan is not unique. we started with him simply because he is the freshest in the politics of our generous government.
In recent years, the Kremlin has written off debts not only from Kyrgyzstan. In 2016-2017 debts forgiven Mozambique, Uzbekistan and Mongolia. The total amount of the "settlement" was about 1,4 billion dollars. Moreover, Kyrgyzstan is in this "club" forgiven with 2005 year. From 2005 to 2016, recalls "Lenta.ru", the Russian side has forgiven Kyrgyz about 703 million dollars. And for 12 years, the amount of forgiven debts was about a billion dollars.
No, do not need the currency of the country.
Uzbekistan is the second brotherly country, which also wants a “settlement”. And receives.
In 2016, Russia wrote off a debt in the amount of 865 million dollars to Uzbekistan. That was the debt on overdue loans issued in 1992-1993. The agreement provided for Uzbekistan’s rejection of claims to a share in the Diamond Fund of the former USSR, which he himself valued at billion dollars to 1-2.
In 2016, Russia "settled" 170 million dollars of Mongolian debt (97% of all debt). Mongolian debt arose in the 1990-ies since the failure of the loan of the Soviet era, intended to pay for the participation of Mongolia in the joint venture Mongolrostsvetmet. According to Russia, the debt restrained the development of investment cooperation, including the implementation by the companies of the Russian Federation of projects in the transport and mining sectors in Mongolia. However, this is not all debt relief. Earlier, in 2003, Moscow forgave Mongolia 11,1 billion dollars. This is also the debt of the Soviet era, which arose because of a loan worth 11,4 billion dollars.
In 2017, the Kremlin has forgiven forty million Mozambique - a trifle compared to other “settlements”. According to Lenta, this decision appeared to be of a “humanitarian” nature.
In addition, V. Putin recalled that Russia has forgiven the debts of more than twenty billion dollars to African states. Probably, the president was referring to debts written off from 2008 to 2012. Well, before that, Russia wrote off more 16 billions to African countries.
The amounts are truly astronomical.
Russia itself got all one hundred percent of the debt of the USSR. In 2017, she finally closed the matter, paying off with Bosnia and Herzegovina. “Initially, Russia, as the successor of the RSFSR, had to pay 61,34 a percent of the debt, the remaining obligations were distributed among the former Soviet republics: for example, Kyrgyzstan had to pay 0,95 percent, and Tajikistan - 0,82 percent, reminds Anastasia Stakhanova. “However, in 1993, Russia assumed the obligation to pay the USSR debt in full in exchange for the refusal of the former republics of shares in the foreign assets of the Soviet Union: they could claim parts of the“ inheritance ”equivalent to the size of the debt they inherited from the USSR.”
Recall that in 2006, Moscow paid off in full the debts to the Paris Club (23,7 billion dollars).
In 2013, Russia paid in full to the fraternal Czech Republic (3,6 billion dollars).
The Czech Republic was followed by Montenegro ($ 18 million) and Finland ($ 30 million).
Why are there Soviet debts - Russia pays royal ones too!
After the abdication of Nicholas II, in March seventeenth, the Provisional Government reported to the West about its readiness to service external debt. True, the Bolsheviks, who made another revolution, did not agree with this. In January, 1918 was approved by the decree on the cancellation of royal loans.
Meanwhile, foreign capitalists did not intend to forgive Russia's royal debts. And Russia began to pay the market! In the 1996 year, recalls "Lenta.ru", Moscow signed an agreement with France on payment, and in 2000 it transferred 400 million dollars. Earlier, an agreement on the settlement of debts of pre-revolutionary Russia was concluded in the 1986 year with Great Britain: the communist general secretary M. S. Gorbachev signed such an agreement with M. Thatcher.
In short, Russia pays. Pays, pays and pays again.
And then he forgives his debtors.
We consider the size of the "settlement" further.
2014 year. Russia has written off Cuba of debts for a deafening amount - more than thirty billion dollars. This “settlement” took place right before Putin’s visit to Havana. Experts immediately spoke out: they say, Russian oil companies "are looking for oil on the shelf of Cuba." However, Cuba, after forgiveness of debts, immediately became close to the United States.
Fraternal country? This term excitedly deputies A. Ischenko (LDPR) in 2014 year. “When it comes to debt cancellation even for fraternal countries, for some reason we always forget about our own citizens,” he said. Gazeta.ru. “Why didn’t the government raise the question, for example, on granting free vouchers to all citizens of the country to Cuba? ..” And then the deputy voiced a whole list of proposals for writing off debts from the Russian population: to forgive the villagers of the Russian Agricultural Bank, all Russians who took loans in Sberbank for a mortgage, to make a discount in 90% ... And it would be nice to give citizens of the Russian Federation a discount in 90% for utility services. And then allocate forgiven thirty billion debt to support the industry. “We are raising taxes from our population, we are raising taxes from business only to plug holes,” the deputy said angrily. - This money goes to the recapitalization of Vnesheconombank, go to some ineffective projects, which are then stolen. When will this end? When will we think about our citizens? ”
Speaking of "fraternal" Cuba, the deputy said:
“I understand that here is a brotherly country, maybe it should be treated according to the fraternal principle. Then I offer, dear colleagues from the technical majority party, offer your at least party members, members of the United Russia party who are taking a mortgage from Sberbank, offer them an 90-percent discount on this loan. And I think that they will rightly appreciate your proposal. ”
And the debts are “smaller”. In quotes, of course.
Iraq "settled" debts on 21,5 billion dollars - in 2004 and 2008. Interestingly, the new debt was forgiven for the second time: Iraq gained credits again after forgiving the previous debt in 2004, reminds "TVNZ".
And why not recruit, if forgive?
North Korea, after 2012, wrote off about $ 10 billion
Syria has forgiven 9,8 billion dollars in exchange for "agreements" in the construction, production of oil and gas.
“In theory, after each such write-off, be it Cuba, Nicaragua or North Korea,” KP quotes Mikhail Khromov from the Institute. Gaidar - that side should give Russian companies the most favored mode. But I cannot remember a single example, so that after the debt was written off, some contracts would actually appear. ”
Look further into the past. Let's see how the Kremlin under Putin turns the wheel of attraction of unheard of generosity.
In 2000, Russia "settled" most of the debt (9,5 billion from 11 billion) of Vietnam, recalls "Lenta.ru".
In 2001, Moscow relieved fraternal Ethiopia from debt (3,8 from 4,8 a billion dollars, the remaining billion was written off a little later, in 2005 year).
Under the write-off came, of course, and fraternal Afghanistan: 11 forgiven billions of dollars.
Waited for favors and Libya (4,6 billion dollars).
The financial result of the policy of mass forgiveness, which lasts about two decades and is expressed in hard currency: “settled” more than 140 billions of dollars!
Why should so much forgive? Isn't it better, though, to distribute vouchers to citizens? Especially against the background of the fact that foreign experts declared Russia in 2018 year “weak and unlucky”? (Read about it at "IN".)
In exchange, Russia expects to receive certain preferences. Experts try to give an explanation to these preferences. For example, S. Hestanov, a macroeconomic adviser from the Otkritie brokerage house, speaking with Lentoy.ru, called the debts written off by Russia “hopeless”. Forgiveness of these debts allows you to incline the debtor to solutions that are beneficial for the lender. However, the expert acknowledges the following: “The write-off of debts to Cuba and the DPRK has somewhat increased the influence of Russia in this region. But it did not bring material benefits. ” The expert apparently found it difficult to measure the “influence” of Russia.
The same “fraternal” Soviet debts with “preferences” attributed to the times of a brighter future, Russia forgives everywhere.
Vasily Kashin, Leading Researcher at the Institute of Far Eastern Studies of the Russian Academy of Sciences, explained to the Russian Service "BBC"that most of the debts written off by Russia are debts to the Soviet Union. In the 1980s, the expert noted, Moscow armed its allies around the world with an average of 25 billion dollars each year. “These are almost entirely Soviet debts that the Soviet Union distributed for political reasons without any analysis of the ability to pay them,” said Kashin.
The other day, in February 2018, Russian Deputy Minister of Finance Sergei Storchak undertook to explain Russian generosity. He said Gazeta.ru, why Russia forgives others, and returns debts with interest. Here is his explanation:
“This is a very big“ vulgar ”- so to speak and think. In each case and the loan issued to understand. Our debts, obligations that are properly drawn up and nominated in reserve currencies, are our obligations. And those requirements that were spelled out and left to us from the former Soviet Union are exotic. ”
He also added that loans issued half a century ago were issued for political reasons.
“The principle of Russia is this: that we can return we return, that we can not capitalize write off or restructure. - explained "Moskovsky Komsomol" Alexander Mikhaylenko, Professor at the Institute of Law and National Security, RANEPA. “We are not engaged in charity, support for“ fraternal peoples, ”as was done during the Soviet times.”
* * *
It is hard to believe such statements against the background of writing off debts amounting to more than one hundred and forty billion dollars. True, at the "top" it was increasingly said that the planned restoration of Syria is not at all fraternal assistance.
Recently, Mr. Rogozin made it clearthat investments in the restoration of Syria should be cost-effective: after all, we must think about the Russian budget. According to him, the Russian business in Syria considers "every penny, every ruble." One should “think not only about another country, even so close and friendly, but we now have to think about how to earn money in our budget, for our citizens, for people who are also waiting for some return from the big work of the Russian Federation on the territory of Syria” .
However, these are just words. In Syria, the devastation, the war continues, people are dying. And talking about some prospects is about the same as promising to build communism by the 1980 year.
If the Western states that provided loans to tsarist Russia, have shown a century of patience, then why not learn from these enterprising and patient gentlemen of Russia?
You can learn from "non-brotherly" capitalists and something else. Russia in finance for some reason traditionally puts the wrong horse. Maybe it is time to stop the practice of "generous soul" and learn to look at things realistically?
Or in the Kremlin, for example, they believe that Bangladesh is the richest country that will pay a loan for nuclear power plants without problems and make Russia rich in “preferences”? By the way signed The credit document from Russia is the very same Deputy Minister of Finance of the Russian Federation - Mr. Storchak.
In reality, Bangladesh is one of the poorest countries in Asia, the population of this small country periodically goes hungry. Exotic ...
Observed and commented on Oleg Chuvakin
- especially for topwar.ru
- especially for topwar.ru