Guyana to get $50M debt write-off from Russia
May 17, 2012 By
Nikolay Smirnov
Guyana is set to get a GUY$50M debt write-off from the former Soviet Union, Russia before the end of 2012, Russian ambassador in Georgetown Nikolay Smirnov announced on Thursday.
Smirnov while addressing a Guyana manufacturing and Services Association Luncheon made the announcement and pointed out that GUY$16M of Guyana’s debt was written off back in 2007.
“I would also say that recently we finalized and I can also say in specific terms that a very important issue for Guyana about writing off debts, which previously was done in the bulk and not many people may be know but we have written debt of Guyana to former Soviet Union which was GUY$16M and we finalize these process, so it means that debt to Guyana to our country which is more than GUY$3B was written off in 2007, so the rest of it about GUY$50M, we hope will be written this year and certain specific proposal are done at bilateral level and we are finalizing this process” Smirnov said.
Russia will also be lobbying for further debt write-off for developing countries at the upcoming G-8 Summit, where Russia will propose its ideas and highlight that it has written off in excess of GUY$3T to developing countries. Between 2005-2011.
The Russian diplomat said his country views with satisfaction the efforts of Guyana and other Caribbean Community (CARICOM) countries efforts to tackle trans-national criminal activities.
“There is a positive trend in the region in the fight against terrorism, drug trafficking, organized crime including within the context of the framework of CARICOM and other regional organizations, in this regard I would like to make a special notice that recently in February, 2012 we signed with Guyana bilateral agreement in fight against illegal drugs ” he noted.
The diplomat added that,: ” Russia is ready to provide to the respective law enforcement agencies in Guyana and the framework of caricom, technical and training support in this regard.”
He also lauded Guyana’s global fight on climate change which according to the diplomat has given not only this country, but small island states a prominent place in the global climate change fight.
” Guyana in particular has made the concerns of small countries heard on the issue of climate change and pioneering its partnership with Norway….” Smirnov said.
The Russian diplomat also outlined his country’s plan s to work with Guyana in other areas of cooperation including ICT, agriculture and energy.
