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Monday, 29 March 2004
RUSSIAN BANK TO HANDLE TURKMEN DEBT COLLECTION
By empty (3/29/2004 issue of the CACI Analyst)
Russia\'s privately owned National Reserve Bank (NRB) will represent Turkmenistan in the country\'s efforts to recover its international debts. The agreement came in the course of a meeting between NRB President Yurii Kudimov and Turkmen President Saparmurat Niyazov. Turkmenistan hopes to collect $500 million in debts from Azerbaijan, Georgia, and Kazakhstan, as well as $50 million from a number of Russian commercial banks.
Russia\'s privately owned National Reserve Bank (NRB) will represent Turkmenistan in the country\'s efforts to recover its international debts. The agreement came in the course of a meeting between NRB President Yurii Kudimov and Turkmen President Saparmurat Niyazov. Turkmenistan hopes to collect $500 million in debts from Azerbaijan, Georgia, and Kazakhstan, as well as $50 million from a number of Russian commercial banks. In remarks delivered after his meeting with Niyazov, Kudimov stressed NRB\'s experience in the debt market. NRB is one of Russia\'s largest investment banks. (RosBalt)