Government approves Russian debt settlement

The Czech government on Friday approved an agreement with Russia on debt settlement, PM Jiří Rusnok said. The Russian Federation owes the Czech Republic some 8 million dollars, the remaining part of a debt that originated in the Soviet era. Under the deal, the Czech government will receive around 80 percent of the debt, most of which was controversially settled in the early 2000s; the government of then PM Miloš Zeman sold claims worth around 2.5 billion US dollars to a private firm for 580 million dollars.

Author: Jan Richter