LAW OF THE REPUBLIC OF TAJIKISTAN

of December 24, 2022 No. 1923

About the state and guaranteed by the state debt

Accepted by the Resolution MH MOPT of November 2, 2022, No. 891

Approved by the Resolution MM MORT of December 16, 2022, No. 340

This Law governs the relations arising in the course of borrowing of national debt management, the debt guaranteed by the state and loaning up of borrowings.

Chapter 1. General provisions

Article 1. Basic concepts

In this Law the following concepts are used:

1) the state borrowing - attraction of borrowed funds on behalf of the Republic of Tajikistan by placement of government securities, receipt of the credits and use of other financial instruments regulated by the legislation of the Republic of Tajikistan or used in the foreign financial markets on which there are debt obligations for the Republic of Tajikistan as the borrower;

2) public debt - set of debt obligations of the Republic of Tajikistan for certain date;

3) the debt guaranteed by the state - the amount of the non-state loans, obtained and outstanding for certain date, attracted with resident borrowers of the Republic of Tajikistan and, having the state warranty;

4) debt obligation - the amount received and outstanding for certain date, including the added and outstanding interest payments and other outstanding amounts on the state borrowings of the Republic of Tajikistan and the credits guaranteed by the state which obligation on servicing passed to the Republic of Tajikistan;

5) the state guarantee - the obligation of the Republic of Tajikistan to the creditor fully or partially to repay the debt in case of failure to pay by the resident borrower the Republic of Tajikistan the amount which is due from it at the scheduled time;

6) government securities - the bonds and bills issued on behalf of the Republic of Tajikistan in national and foreign currencies;

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