MOSCOW, March 19 The Russian government and the government of the Republic of Guinea-Bissau have agreed to settle the latter’s debt for a total amount of $26.6 million, the corresponding agreement has been published on the website of the official publication of legal acts.
As follows from the document, it was decided to write off “the amount of debt of the Republic of Guinea-Bissau to the Russian Federation specified in subparagraph “a” of paragraph 1 of Article 1 of this agreement, and as of December 1, 2010 amounted to 25,121,802.94 US dollars.. .» and «the amount owed… as of December 31, 2009 was $1,517,263.50.»
As specified, Russia previously provided $25.122 million as loans, and $1.517 million will be written off for the rental of space provided by the Ministry of Foreign Affairs. From January 1, 2010, interest was accrued on the rental debt at a rate of 2% per annum.
It is noted that the Guinean side will not pay loans and interest on them, as well as 38% of the rent debt. The remaining 62% of rent owed will be paid according to the schedule specified in the agreement.
The annex to the agreement shows that the Republic of Guinea-Bissau paid the debt from June 30, 2011 to December 31, 2016. Taking this into account, the debt for renting premises amounts to 1.022 million dollars: the principal debt is 940.703 thousand dollars, interest is 81.198 thousand dollars.