States owe CZK 22bn to ČR at end-2012, Cuba biggest debtor

States owe CZK 22bn to ČR at end-2012, Cuba biggest debtor
ČTK |
20 March 2013

Prague, March 18 (CTK) - Total claims of the Czech Republic on foreign
states stood at Kc22.07bn at the end of last year, down from Kc22.35bn a
year earlier, with Cuba the largest debtor, said a report of the Finance
Ministry to be submitted to the government for information on Wednesday.

Countries repaid Kc176m worth of debt last year, the report which CTK
has at its disposal said.

Debt from civilian loans totalled around Kc16.1bn. Albania, for
instance, paid Kc20.6m in instalments, Iraq nearly Kc152m and Russia
over Kc3m in interest on overdue instalments.

Falcon Capital paid Kc397,000 in overdue interest in connection with
unblocking part of the Russian debt back in 2005.

Debt from special - secret - loans stood at Kc5.98bn, a drop from 2011's
Kc6.1bn. The Czech Republic has provided special loans to Libya and
Cuba. They concerned, for instance, deliveries of military equipment in
the past.

Cuba is the biggest debtor, the report said. Its debt from civilian
loans tops Kc6.6bn.

This year, Cuba has responded to the Czech request for a possible
conversion of the Cuban debt into a convertible currency.

Other big debtors are Iraq, countries of former Yugoslavia, Russia and
Sudan. Sudan has not been repaying its debt of almost Kc2bn.

According to the Finance Ministry, Sudan confirms the amount of debt but
rejects taking any steps until the international community makes a
decision on the way of its bailout.

Claims on selected foreign countries (in Kc thousands):

civilian loans
country amount of debt
Albania 38,574
Belarus 34,116
China 224,403
Iraq 1,290,312
Iran 977,980
former Yugoslavia 2,682,834
North Korea 187,823
Cuba 6,623,574
Russia 155,574
Sudan 2,445,635

Source: annual report of Finance Ministry on foreign countries' debt to
Czech Republic in 2012

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