SARAJEVO (Bosnia and Herzegovina), October 5 (SeeNews) – Bosnia's state-level government has said it is set to launch talks with Russia over settling $125.2 million (111.5 million euro) of 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 Tuesday that it has defined a proposal which will be the basis for negotiations with Russia towards settling the portion of Soviet-era debt owed to Bosnia.
Both of the country's entities - the Federation of Bosnia and Herzegovina, and the Serb Republic - have agreed to the proposal, the government said in a statement.
The 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 $3.8 million.
The proposed ratio corresponds to the country's legislation on the distribution, purpose and use of funds received, the council noted.
Russia has already cleared Soviet Union's debt owed to Serbia, Croatia and Slovenia.
($=0.890822 euro)