FORMULA “PROPERTY FOR DEBT” WILL COME INTO FORCE FROM TOMORROW

Ilya Klebanov, the Co-Chair of Armenian-Russian Intergovernmental Commission, is in Yerevan again. Preparatory works of a year are over and the agreement on “Property for debt” will be concluded tomorrow.

Armenia is to settle its debt of $100.000.000 to Russia through property.

Klebanov says he hopes the appropriate documents to be signed by December the 31-st or sooner and Armenia will have no debt to Russia beginning from January the 1-st, 2003.

Mr Klebanov said the debt and the property are to be of equivalent value . The auditors of 2 countries will state the value the Armenain enterprises in the last phase of the bargain.