Agreement between the Government of the Russian Federation and Government of the Azerbaijan Republic on settlement of debt obligations and credit requirements and registration of public debt

of November 13, 1992

According to the Agreement on single cash system and the approved monetary and monetarist policies of the Russian Federation and the Azerbaijan Republic, the Government of the Russian Federation and the Government of the Azerbaijan Republic, further referred to as - the Parties, aiming at the problem resolution, arisen in connection with earlier allowed uncoordinated activities in the monetary sphere, agreed as follows:

Article 1

The parties will settle the debt obligations and credit requirements formed by results of trade and economic relations of the Russian Federation and the Azerbaijan Republic in 1992 and will draw up for January 1, 1993 remained not settled debt obligations and credit requirements in the form of public debt of the relevant Party.

Are subject to settlement:

the balance reflected in balances and correspondent accounts of the Central bank of the Russian Federation and National Bank of the Azerbaijan Republic for July 1, 1992 taking into account interstate offsetting for the specified date;

the balance which is formed and will receive reflection on correspondent accounts of the Central bank of the Russian Federation and National Bank of the Azerbaijan Republic for January 1, 1993 on transactions after July 1, 1992.

Article 2

The parties will suggest the Central bank of the Russian Federation and National Bank of the Azerbaijan Republic to provide the relevant data of balances reflecting debt obligations and credit requirements as of July 1, 1992 and for January 1, 1993 including bank technical the credit on the basis of what the public debt of the relevant Party will be determined.

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