SARAJEVO (Bosnia and Herzegovina), November 11 (SeeNews) – Bosnia's state-level government has approved a draft agreement with Russia on settling a $125.2 million (136.3 million euro) debt owed by the former USSR to the former Yugoslavia.
Russia, which had taken on the entire Soviet Union's foreign debt, signed a multilateral memorandum in 2003 with the republics of the former Yugoslavia on the Soviet-era debt owed to them. The debt, estimated at some $1.3 billion in total, was distributed among all ex-Yugoslavia republics.
Bosnia's Council of Ministers said on Thursday it determined a draft agreement with Russia which has now been forwarded to the Bosnian presidency for further procedure.
According to the document, Bosnia's Federation will receive 58% of the debt repayment, or $72.6 million, the Serb Republic has claim to $36.3 million or 29%, Bosnia's state institutions - $12.5 million or 10%, while the Brcko District - a neutral, self-governing administrative unit - will receive 3% or $3.8 million.
The proposed ratio corresponds to the country's legislation on the distribution, purpose and use of funds received, the Council of Ministers said earlier.
Russia has already cleared Soviet Union's debt owed to Serbia, Croatia and Slovenia.
The Federation of Bosnia and Herzegovina and the Serb Republic are two autonomous entities which make up Bosnia.
($=0.918743 euro)