Russia and Libya’s inter-governmental commission for trade, economic, scientific and technical cooperation met in the Libyan capital of Tripoli in mid-November, and for the first time ever the sensitive issue of Libyan debts to Russia was raised, reported the Interfax new agency.
According to Yuri Brazhnikov, Libya's debt equals $3 billion or $4 billion, depending on whether interest is taken into account. He added that Libya is refusing to recognize its debts, but noted that the subject would be discussed again when the two sides meet in January.
Brazhnikov added that during the talks the two sides agreed to promote trade, economic, scientific and technical cooperation, of a type that will not lead to the accumulation of new debts. The money owed, he said, was mainly used for military hardware.
To ensure that the future Russian-Libyan relationship remains debt-free, Moscow and Tripoli plan to set up special agencies, with the express purpose of guaranteeing that neither side runs up any debts. — (Albawaba-MEBG)
© 2000 Mena Report (www.menareport.com)
