LAW OF THE KYRGYZ REPUBLIC

of September 21, 2001 No. 83

About the public and non-state debt of the Kyrgyz Republic

Accepted by General Court of Jogorku Kenesh of the Kyrgyz Republic on June 26, 2001

This Law governs the relations arising in the course of implementation of the state borrowings when implementing of powers by state bodies on attraction, development and repayment of loans, national debt management, including guaranteed by the state, determines the rights, obligations and responsibility of residents of the Kyrgyz Republic concerning attraction, development and return of the borrowed means, and also for accounting of non-state debts.

Chapter 1. General provisions

Article 1. Basic concepts

1. Public debt - the total amount of the mastered and outstanding internal and external public debt of the Kyrgyz Republic for certain date according to the credit agreement or on other debt obligations of the state.

2. Debt obligation - all obligation types on securities, credit agreements, credit agreements, arrangements and other obligations in paper form and/or record in electronic form determining the fact of borrowing of certain money or purchase of goods and/or services with the obligation to compensate the corresponding amounts or the cost of goods and/or services stipulated by agreements fully or partially.

3. The credit agreement - the legal document which is the contract between the borrower and the creditor, concluded with the purpose of receipt of loan in the form of money (goods or services) and containing conditions on their return, interest payment and other costs provided in the credit agreement.

4. Resident - the legal entity or physical person registered in the Kyrgyz Republic to which the legislation of the Kyrgyz Republic fully extends.

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