<СОГЛАШЕНИЕ МЕЖДУ ПРАВИТЕЛЬСТВОМ РОССИЙСКОЙ ФЕДЕРАЦИИ И ПРАВИТЕЛЬСТВОМ ШВЕЙЦАРСКОЙ КОНФЕДЕРАЦИИ ОБ УРЕГУЛИРОВАНИИ ПЛАТЕЖНЫХ ОБЯЗАТЕЛЬСТВ РОССИЙСКОЙ ФЕДЕРАЦИИ ПО ВНЕШНЕМУ ДОЛГУ БЫВШЕГО СССР> [англ.](Вместе со <СПИСКАМИ ПЕРЕСМОТРА СРОКОВ ПОГАШЕНИЯ КРЕДИТА НА ОСНОВЕ СОГЛАШЕНИЯ О ПЕРЕСМОТРЕ УСЛОВИЙ ЗАДОЛЖЕННОСТИ РАЗВИВАЮЩИХСЯ СТРАН ПАРИЖСКОМУ КЛУБУ ОТ 1 АВГУСТА 1999 ГОДА>)(Заключено в г. Москве 25.05.2000)
AGREEMENT
BETWEEN THE GOVERNMENT OF THE SWISS CONFEDERATION
AND THE GOVERNMENT OF THE RUSSIAN FEDERATION ON THE
REORGANIZATION OF THE
RUSSIAN FEDERATION"S EXTERNAL DEBT
SERVICE OBLIGATIONS, INCLUDING CERTAIN
DEBTS CONTRACTED
BY THE GOVERNMENT OF THE UNION OF THE SOVIET
SOCIALIST REPUBLICS (USSR)
(Moscow, 25.V.2000)
The Government of the
Swiss Confederation and the Government of the Russian Federation,
acting
in accordance with the recommendations of the Agreed Minute signed in Paris on
August 1st, 1999 between representatives of certain creditors countries, among
which Switzerland, and representatives of the Government of the Russian
Federation,
have agreed on the following provisions:
Article
1
Debts concerned
The debts to which this reorganization will apply are
the following, to the extent covered by the Declaration acknowledging the debt
to Foreign Creditors of the former Soviet Union (FSU), signed by the Government
of the Russian Federation in Paris on April 2, 1993 which forms an integral part
of the present Agreement:
a) Repayments of principal and interest due as
a result of the consolidation or deferral of debts referred to in Article 1,
Paragraph 2 and Article 2, Paragraph la) of the Agreement between the Government
of The Swiss Confederation and the Government of the Russian Federation on the
reorganisation of the Russian Federation"s external debt service obligations,
including certain debts contracted by the Government of the Union of the Soviet
Socialists Republics (USSR) dated March 10, 1994.
b) Repayments of
principal and interest due as a result of the consolidation or deferral of debts
referred to in Article 2, Paragraph 1b) of the Agreement between the Government
of The Swiss Confederation and the Government of the Russian Federation on the
reorganisation of the Russian Federation"s external debt service obligations,
including certain debts contracted by the Government of the Union of the Soviet
Socialists Republics (USSR) dated March 10, 1994.
c) Repayments of
principal and interest due as a result of the consolidation or deferral of debts
referred to in Article 1 and Article 2 of the Agreement between the Government
of The Swiss Confederation and the Government of the Russian Federation on the
reorganisation of the Russian Federation"s external debt service obligations,
including certain debts contracted by the Government of the Union of the Soviet
Socialists Republics (USSR) dated January 12, 1995.
d) Repayments of
principal and interest due as a result of the consolidation or deferral of debts
referred to in Article 1 and Article 2 of the Agreement between the Government
of The Swiss Confederation and the Government of the Russian Federation on the
reorganisation of the Russian Federation"s external debt service obligations,
including certain debts contracted by the Government of the Union of the Soviet
Socialists Republics (USSR) dated November 14, 1995.
e) Payments of
interest due as a result of the consolidation or deferral of debts referred to
in Article 1 and Article 2 of the Agreement between the Government of The Swiss
Confederation and the Government of the Russian Federation on the reorganisation
of the Russian Federation"s external debt service obligations, including certain
debts contracted by the Government of the Union of the Soviet Socialists
Republics (USSR) dated January 30, 1997.
Article 2
Rescheduling of
certain maturities
The rescheduling under this article shall apply to:
1. 100% of the amounts of principal and interest (including late interest) due
as at June 30, 1999 inclusive and not paid and not referred to in Article 3
paragraph 2 below and 100% of the amounts of principal and interest (excluding
late interest) due from July 1, 1999 up to December 31, 2000 inclusive and not
paid resulting from article 1 paragraph a), c), d) and e) of the present
Agreement.
2. Repayment by the Government of the Russian Federation of
the corresponding sums will be made as follows:
- 0,90% on February 20,
2002; - 0,90% on August 20, 2002;
- 1,68% on February 20, 2003;
- 1,78% on August 20, 2003;
- 2,08% on February 20, 2004; -
2,18% on August 20, 2004;
- 2,29% on February 20, 2005; - 2,40%
on August 20, 2005;
- 2,43% on February 20, 2006; - 2,43% on
August 20, 2006;
- 2,55% on February 20, 2007; - 2,68% on August
20, 2007;
- 2,81% on February 20, 2008; - 2,94% on August 20,
2008;
- 3,08% on February 20, 2009; - 3,23% on August 20,
2009;
- 3,37% on February 20, 2010; - 3,53% on August 20,
2010;
- 3,69% on February 20, 2011; - 3,85% on August 20,
2011;
- 4,02% on February 20, 2012; - 4,20% on August 20,
2012;
- 4,38% on February 20, 2013; - 4,57% on August 20,
2013;
- 4,76% on February 20, 2014; - 4,96% on August 20,
2014;
- 5,17% on February 20, 2015; - 5,38% on August 20,
2015;
- 5,60% on February 20, 2016; - 6,16% on August 20,
2016.
Article 3
Deferral of certain amounts
1. 90% of the amounts of
principal and interest (excluding late interest) due as at June 30, 1999
inclusive and not paid, and 100% of late interest due as at June 30, 1999
inclusive and not paid, and 90% of the amounts of principal and interest
(excluding late interest) due from July 1, 1999 up to December 31, 2000
inclusive and not paid, on debts mentioned in Article 1 paragraph b) above.
The corresponding sums will be repaid in 10 equal and successive semi-annual
instalments, the first payment to be made on February 20, 2001 and the final
payment to be made on August 20, 2005.
The remaining amounts will be paid
no later than July 1, 2000.
2. 76% of the amounts of principal and
interest (including late interest) originally due from August 1, 1998 up to
December 31, 1998 inclusive and not paid as at June 30, 1999 inclusive, and 100%
of late interest due as at June 30, inclusive and not paid, on debts resulting
from article 1 paragraph a), c), d) and e) of the present Agreement will be
reprofiled. The corresponding sums will be repaid in 10 equal and successive
semi-annual instalments, the first payment to be made on February 20, 2001 and
the final payment to be made on August 20, 2005.
The remaining amounts
will be paid as follow:
- 91% no later than November 30, 1999 (which
payment has been made);
- 9% no later than July 1, 2000.
3. It is
understood that debt service pursuant to paragraphs 1 and 2 above will not in
any case be affected by any further treatment and especially by the agreement
referred to in Article 11 below.
4. All other amounts due by the
Government of the Russian Federation and not covered by Article 2 and 3 of the
present Agreement will be paid on due dates.
Article 4
Amount
The
total amount of the maturities to be rescheduled and deferred according to
Articles 2 and 3 of the present Agreement is approximately 43 million Swiss
francs, of which approximately 36 million Swiss francs are rescheduled and
approximately 7 million Swiss francs are deferred. The maturities are detailed
in separate lists which form an integral part of the present Agreement. These
lists may be modified through mutual written agreement between the parties to
the present Agreement.
Article 5
Interest
1 The rate of interest on
the financial arrangements covered by the present Agreement is based on the
market rate and shall be 4,08% per annum.
2. The Government of the
Russian Federation shall guarantee the payment of interest on the individual
amounts rescheduled or deferred under the provisions of the present Agreement as
follows:
On arrears
As regards amount specified in article 2 and 3
of the present Agreement and due on or before 30.06.99 late interest shall be
calculated from the original due date to 30.06.99 at the rate specified in the
corresponding former agreements.
On maturities
As regards amounts
specified in article 2 and 3 of the present Agreement and due between July 1st,
1999 and December 31st, 2000 rescheduling interest shall be calculated as from
the contractual maturity date of such debts at the rate specified in Article
5.1.
3. Interest shall be calculated semi-annually in arrears on the
basis of a year of 360 days and the exact number of days elapsed (365/360).
Interest for each period shall be calculated from but excluding the first day of
the period (i.e., February 20 or August 20) to and including the last day of the
period (i.e., August 20 or February 20). Interest shall be paid on February 20
and August 20 of each year, as provided under Article 2 and 3 of the present
Agreement, for the first time on a date thirty days following the signature of
this Agreement with respect to the period ending February 20, 2000.
Article
6
Late interest
In case of delayed payments of any maturity foreseen in
Articles 2 and 3 hereabove, late interest shall be charged at the rate according
to Article 5, increased by 0,25% per annum. This does not in any way constitute
the right to defer any payment due.
Article 7
Payments
1. The
payments foreseen under the present Agreement shall be made in freely available
Swiss francs to a Swiss bank which is to be specified.
2. In case any
amount within this Agreement falls due on a day which is not a banking business
day in the Russian Federation, Switzerland and/or the United States of America,
such an amount shall be payable in Switzerland on the next succeeding banking
business day and the interest shall run accordingly.
3. Each payment by
the Government of the Russian Federation under this Agreement shall be made
without deduction or withholding for or on account of
(i) any present or
future taxes of any nature whatsoever imposed by or within the Russian
Federation or any political subdivision or taxing authority thereof or therein
except to the extent that such taxes may be required by Russian law, and if any
such taxes are deducted or withheld, such additional amount will be paid
simultaneously as may be necessary for the Government of the Swiss Confederation
to receive the amount that would have been received if such taxes had not been
deducted or withheld; or
(ii) any banking fees or charges in respect of
such payment imposed outside Switzerland.
4. The VNESHECONOMBANK of USSR
shall forward a copy of the payment orders to the State Secretariat for Economic
Affairs in Berne and the Export Risk Guarantee Office in Zurich.
5. The
Government of the Russian Federation shall punctually execute all obligations
foreseen in the present Agreement, irrespectively of the objections it could
have regarding the supply contract between the Swiss creditors and Russian
debtors.
6. The Export Risk Guarantee Office shall provide
Vnesheconombank with a notice specifying the amounts to be paid under this
Agreement (including the relevant calculations) and providing payment
instructions at least thirty days before each due date under this
Agreement.
Article 8
Subrogation
The payment obligation of the
Government of the Russian Federation under this Agreement substitutes the
payment obligation of the original debtors. Rights and obligations of individual
creditors and debtors under the original contracts not amended by this Agreement
remain unaffected.
Article 9
Comparability of treatment
Pursuant to
Article IV paragraph 1 and 2 of the Agreed Minutes, signed in Paris on August
1st, 1999, the Government of the Russian Federation commits itself:
1. to
seek from all its external creditors, including inter alia other official
creditors, financial institutions and suppliers, rescheduling or refinancing
arrangements on terms comparable to those set forth in the above mentioned
Agreed Minutes for credits of comparable maturity making sure to avoid
inequality between different categories of creditors;
2. not to accord
any external creditors a treatment more favourable than that accorded to the
Government of Switzerland, except for the rate of interest.
Article
10
Conditionality
1. The provisions of the present Agreement will
continue to apply unless the Government of the Russian Federation has not made
by November 30, 1999 inclusive all payments due up to that date on debts not
consolidated or reprofiled pursuant to Article 1 and Article 2 hereabove and the
Chairman of the Paris Club notifies the Government of the Russian Federation
that the provisions of the Agreed Minute signed in Paris on August 1st, 1999
have ceased to apply.
2. The provisions will continue to apply until
March 31, 2000 inclusive, unless the Government of the Russian Federation ceases
to have an appropriate arrangement with the International Monetary Fund and
thereafter will continue to apply to December 31st, 2000 inclusive, unless the
Government of the Russian Federation has not made on due dates the payments to
Switzerland pursuant to the present Agreement and, in either case, the Chairman
of the Paris Club notifies the Government of the Russian Federation that the
provisions of the Agreed Minute signed in Paris on August 1st, 1999 have ceased
to apply.
Article 11
Goodwill clause
The Goodwill clause mentioned
in Article V paragraph 4 of the PVA signed in Paris on August 1st, 1999 is
considered an integral part of the present Agreement.
Article 12
Entry
into force
The present Agreement shall enter into force on the date of its
signature by the two Governments.
In witness whereof the undersigned
plenipotentiaries, duly authorised, have signed the present Agreement.
Done
in two originals in English in Moscow, on the 25th of May,
2000.
RECHEDULING LISTS
BASED ON THE AGREED MINUTE OF THE
PARIS CLUB DATED
AUGUST 1, 1999
165.6.100 Arrears carried over
from Resche- CHF 12006432,86
dulings 1 to 4 due as per
30 June
1999
165.6.200 Maturities from 1 July
1999 to 31 CHF 23943284,91
December 2000 carried over
from
Rescheduling 4
165.6.300 90% arrears
carried over from CHF 730840,11
Rescheduling 1 due
as at 30 June
1999
165.6.310 10% arrears
carried over from CHF 78783,51
Rescheduling 1 due
as at 30 June
1999, incl. late interest
165.6.400 90% maturities from 1 July 1999 CHF 2012484,20
to 31 December 2000 carried over
from Rescheduling
1
165.6.410 10% maturities from 1 July 1999 CHF 223609,36
to 31 December 2000 carried over
from
Rescheduling 1
165.6.500 Levelling-up: 76% amounts carried CHF
2788262,17
over from Rescheduling 2 and 3
165.6.510 Levelling-up: 21,84% amounts CHF 801258,50
carried over from Rescheduling 2
and 3
165.6.520 Levelling-up: 2,16% amounts CHF 79245,35
carried over from Rescheduling 2
and 3
165.6.530 Late interest from 31 December CHF 101299,26
1998 to 30 June 1999 on Lists
165.6.500, 510 and
520
Grand total: CHF
42765500,23
