LAW OF THE REPUBLIC OF TAJIKISTAN

of December 11, 1999 No. 886

About the state and guaranteed by the state borrowing and debt

This Law governs the relations arising in the course of the state borrowing by authorized bodies of the Republic of Tajikistan and the non-state borrowing by residents of the Republic of Tajikistan provided with the state guarantees and also in process of management of the state and guaranteed by the state debt.

Chapter I. General provisions

Article 1. Basic concepts

In this Law the following concepts are used:

1) state loan - loan in which the Government of the Republic of Tajikistan acts as the borrower;

2) public debt - the amount of the obtained and outstanding state loans for certain date;

3) the state guarantee - the obligation of the Government 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;

4) the debt guaranteed by the state - the amount for certain date of the obtained and outstanding non-state loans having the state warranties;

Guaranteed by the state I will jam 5) - non-state loan on which the state warranty is had;

6) the agreement (agreement) on loan - the document fixing legal relationship owing to which the borrower receives means of loan and incurs obligations to the creditor on their return and (or) on interest payment, and also other payments connected with loan;

7) limit of public debt - the fixed amount of the obtained and outstanding state loans planned in the government budget for the corresponding year which the actual public debt for the end of financial year shall not exceed;

8) limit of provision of the state guarantees - the fixed amount approved as a part of the government budget for the corresponding financial year within which the state guarantees can be issued;

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